Gold and Silver Prices Hit Fresh Lifetime Highs on Global Rally

New Delhi, September 29 – The prices of precious metals, gold and silver, reached unprecedented heights in the domestic futures markets on Monday. The prices soared, creating a new lifetime high based on strong global momentum, as expectations for US Federal Reserve rate cuts and a weaker dollar increased significantly over the weekend.

Gold Surges Past ₹1.14 Lakh

On the Multi Commodity Exchange (MCX), October gold futures surged ₹1,204 or 1.06% and reached ₹1,14,992 per 10 grams, for the first time. Similar trends were observed with silver (details to follow). The December contract gained ₹1,034 or 0.9% to reach a new peak of ₹1,15,925 per 10 grams. This rally comes on the back of a very strong performance in the past week, where gold futures had risen by 3.77% to close at ₹1,14,891 per 10 grams on Friday.

Silver Joins the Rally

As mentioned earlier, similar trends were observed in silver, where the December futures rose ₹2,290, or 1.61%, to an all-time high of ₹1,44,179 per kg. On the other hand, there was a significant increase in the March 2026 contract, which rose by ₹2,559 or 1.79% to reach ₹ 145,817 per kg. Last week, silver posted a sharp rally of ₹12,051, or 9.28%, closing at ₹ 141,889 per kg.

Global Bullion Prices at Record Levels

Globally, December gold futures rose nearly 1% to a record USD 3,837.72 per ounce, while silver climbed more than 1% to hit USD 47.39 per ounce.

The rally was supported by expectations of further monetary easing in the US, following inflation data that aligned with forecasts. Traders are now pricing in a 90% chance of a Fed rate cut in October and around 65% probability of another cut in December.

Meanwhile, the US dollar index slipped 0.18% to 97.97, making bullion more attractive to investors.

Geopolitical and Trade Pressures Add Fuel

The upside in precious metals was further supported by global uncertainties, including new US tariffs on imported goods such as drugs, trucks, and furniture effective October 1, ongoing geopolitical tensions, and concerns over a potential US government shutdown.

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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