Gold and Silver Futures Surge to Record Highs Amid US Shutdown Fears

New Delhi, September 30, 2025: The prices of precious metals, gold and silver, surged to all-time highs today, reflecting heightened demand in both domestic and international markets. The rally was driven by safe-haven demand amid concerns over a potential US government shutdown, coupled with market expectations of interest rate cuts by the Federal Reserve, prompting investors to seek stability in precious metals.

Gold Hits New Records on MCX

On the Multi Commodity Exchange (MCX), gold futures for December delivery jumped ₹1,401 or 1.2% to a record ₹1,17,745 per 10 grams, marking the fourth straight session of gains. The February 2026 gold contract also surged, up by ₹1,520 or 1.29% to hit a fresh high of ₹1,18,994 per 10 grams.

In international markets, gold futures for December delivery climbed over 1%, reaching a record lifetime high of USD 3,895.22 per ounce. This surge positions gold for its largest monthly gain in 14 years. Silver prices also rose sharply, touching USD 47.41 per ounce, reflecting strong global demand amid market uncertainty.

Silver Joins the Rally

Silver mirrored the performance of gold, with December delivery futures rising ₹1,081 or 0.76% to a record ₹1,44,180 per kilogram on MCX. The March 2026 silver contract increased by ₹1,069 or 0.74% to reach a new high of ₹1,45,800 per kilogram.

Broader Market Context

The deadlock in talks between US President Donald Trump and congressional leaders on funding has heightened market anxiety. Without a deal, a shutdown would begin on Wednesday, potentially delaying key data releases such as the September nonfarm payrolls report. Meanwhile, US macroeconomic data last week reinforced bets of further Fed easing, strengthening the case for investors to park funds in gold and silver.

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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