Gold and Silver Ease from Record Highs as Traders Book Profits Ahead of Fed Policy Decision

New Delhi, September 17 – After touching the unprecedented heights earlier this week, both gold and silver prices slipped in Futures trade on Wednesday due to heavy profit booking. In addition, the investors showed caution as a critical decision related to monetary policy and rate cuts is anticipated from the US Federal Reserve’s upcoming announcement. This will have a direct implication on the prices and future tone for global commodities, including the precious metals like gold and silver.

Gold Futures Pull Back from Lifetime Peaks

The gold futures for October delivery fell 0.24% (₹259) to ₹109897 per 10 grams on the MCX (Multi-Commodity Exchange). The gold prices had reached an unprecedented level of ₹110666 per ten grams on Wednesday. Similarly, the December contract dropped ₹232 or 0.21% to ₹1,10,953 per 10 grams, down from its record peak of ₹1,11,703 in the previous session.

Silver Slips Nearly 1%

There was also some anticipated correction in the prices of silver futures from their recent heights. The December contract declined by ₹1267 (nearly 1%) and reached ₹127553 per kilogram. The March 2026 contract also reduced by ₹1,169 or 0.9% to ₹1,29,160 per kg on MCX.

Global Cues Weigh on Bullion

In international trade, gold futures for December delivery slipped 0.19% to USD 3,718.10 per ounce, after hitting a lifetime peak of USD 3,739.90 on Tuesday.

Silver futures were down 1.20% at USD 42.40 per ounce, compared to their 14-year high of USD 43.43 in the prior session.

Market Outlook

Investors are now eyeing the Federal Reserve’s policy meeting later tonight, where a 25-basis-point rate cut is widely expected. Market participants will also track Fed Chair Jerome Powell’s commentary, the dot plot, and updated economic forecasts for fresh cues. Meanwhile, optimism around the ongoing US-China discussions and upcoming policy decisions from the Bank of England and Bank of Japan are expected to keep bullion markets volatile in the near term.

REF: https://www.mcxindia.com/en/market-data/get-quote/FUTCOM/GOLD/03OCT2025

https://www.mcxindia.com/en/market-data/get-quote/FUTCOM/SILVER/05DEC2025

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