Gold rate today: Prices of Gold futures surged to unprecedented levels, reaching Rs 1.11 lakh per 10 grams with an increase of Rs 799 in domestic futures trading on Monday. This upward movement aligned with global trends as market participants awaited crucial US inflation data and statements from Federal Reserve officials for future policy direction.The December delivery gold futures on Multi Commodity Exchange (MCX) recorded a rise of Rs 799, equivalent to 0.72 per cent, establishing a new record at Rs 1,11,750 per 10 grams.Gold continues to benefit from its status as a safe haven, driven by persistent geopolitical uncertainties and worries about the economic consequences of President Donald Trump’s tariff policies. Additionally, strong central bank purchases and consistent ETF inflows have bolstered its position.
Gold, Silver Prices Touch Lifetime Highs
“Gold prices edged up to hover near record levels, as investors looked ahead to key US inflation data and comments from several Federal Reserve officials this week for further policy guidance,” said Jigar Trivedi, Senior Research Analyst at Reliance Securities, according to a PTI report.The October delivery contracts, which saw higher trading volumes, increased by Rs 761 or 0.69 per cent to Rs 1,10,608 per 10 grams. The previous week had witnessed these futures reaching a new high of Rs 1,10,666 per 10 grams.Silver futures also demonstrated significant growth, setting new records. The March delivery contracts for the white metal increased by Rs 2,446 or 1.86 per cent, reaching an unprecedented Rs 1,33,582 per kilogram.The silver futures for December delivery experienced a significant rise of Rs 2,473 (1.9 per cent), reaching a new record of Rs 1,32,311 per kg on the MCX.Market analysts noted that the decline in rupee value and the lacklustre performance of domestic equity markets provided additional support to precious metal prices.In international markets, gold futures showed an increase of $26.82 (0.72 per cent) to $3,732.62 per ounce, following its historic peak of $3,744 per ounce achieved in the previous week.The US Federal Reserve implemented its first rate reduction of the year last week, indicating additional cuts in the upcoming period as employment figures show signs of weakness.“Markets currently imply two more reductions this year, one in October and another in December, with expectations of continued monetary policy easing providing a major boost to bullion’s 40 per cent surge so far this year,” Trivedi said.In the futures market, silver for December delivery registered a 2.17 per cent increase, reaching USD 43.88 per ounce.“Silver has been carving out a more aggressive trajectory than gold, driven by investment flows, solar panel demand and industrial use in electric vehicles, 5G infrastructure and battery storage,” said Riya Singh, Research Analyst, Commodities and Currency, Emkay Global Financial Services.The limited growth in supply has left the market susceptible to disruptions, according to her observations.According to Pranav Mer, Vice President, EBG – Commodity & Currency Research, JM Financial Services, domestic silver prices could potentially reach Rs 1,40,000-1,50,000 per kilogram on the commodities exchange.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
