Gold and Silver Hit Record Highs on MCX Amid Strong Global Demand

Gold and silver prices surged to fresh all-time highs on the MCX today, reflecting robust demand and ongoing global market cues. Investors responded to safe-haven demand amid geopolitical and economic uncertainties, driving precious metals to new records.

Market Performance

• MCX Gold: ₹1,22,780 per 10 grams (record high)
• MCX Silver: ₹1,48,724 per kg (record high)
• December Futures: Gold traded 1.37% higher at ₹1,22,776 per 10 grams; Silver up 1.82% at ₹1,48,444 per kg
• US Gold Futures: Reached $4,037 per troy ounce, surpassing $4,000

The market rally was supported by strong spot demand, global economic cues, and expectations of rate cuts by the US Federal Reserve.

Key Drivers Behind the Rally

Several factors contributed to the bullish trend in gold and silver:

• Economic Uncertainty: The US government shutdown entered its seventh day, delaying key economic indicators.
• US Fed Expectations: Anticipation of further rate cuts strengthened safe-haven demand.
• Global Buying Trends: Strong purchases by central banks and inflows into gold ETFs boosted prices.
• Dollar Weakness: The weaker US dollar added to upward pressure on precious metals.

Domestic gold prices have climbed over 55% this year, reflecting sustained investor interest and risk-hedging behavior.

Detailed Price Movement

• MCX Gold December Futures: ₹1,22,776 (+1.37%)
• MCX Silver December Futures: ₹1,48,444 (+1.82%)
• US Gold December Futures: $4,037 per troy ounce
• Domestic Trend: Gold and silver steadily rose throughout the session as investor demand remained strong
  Gold and silver typically see heightened activity during periods of political tension, economic uncertainty, or expected interest rate cuts. The combination of these factors has created a favorable environment for precious metals.

Summary

• Record Highs: Gold at ₹1,22,780 per 10 grams; Silver at ₹1,48,724 per kg
• Global Support: US gold futures breached $4,000 per troy ounce
• Key Drivers: Spot demand, Fed rate cut expectations, central bank buying, US government shutdown, dollar weakness
• Investor Outlook: Precious metals continue to attract attention as a safe-haven hedge amid ongoing uncertainties

The rally in gold and silver underscores the metals’ role as a secure investment in turbulent times, reflecting both domestic and international market dynamics