Gold Hits Record ₹1.23 Lakh per 10g as Global Uncertainty Spurs Safe-Haven Demand

Mumbai, 13 October 2025: Gold prices surge͏d to ͏fre͏sh reco͏rd highs on͏ Monday, lifted by e͏scalating U͏S-Ch͏ina trade͏ tens͏io͏ns, a͏ pr͏olo͏nged͏ US government͏ s͏hutdo͏wn,͏ ͏and ͏renewed ͏gl͏ob͏al economic͏ un͏certainty that͏ drove investors towa͏rd saf͏e-haven ͏assets.

Gold Futures Surge ₹2,613 to New Lifetime Peaks of ₹1,23,977 Per 10 Grams

On the Multi Commodity Exchange (MCX), gold futures for December delivery jumped ₹2,613 or 2.15% to touch a new lifetime high of ₹1,23,977 per 10 grams. The February 2026 contract also climbed ₹2,296 or 1.87% to ₹1,24,999 per 10 grams, nearing its all-time high of ₹1,25,025 hit last Thursday. Last week, the yellow metal had already risen by ₹3,251 or 2.75%, reaching a then-record of ₹1,23,677 per 10 grams, before mild profit booking trimmed gains toward the week’s close.

Silver Follows with Sharp Rally with December Contracts Up ₹5,856 to ₹1,52,322/Kg

Silver, too, witnessed strong momentum. The December silver futures on MCX surged ₹5,856 or 4% to ₹1,52,322 per kilogram, nearing its recent record of ₹1,53,388 per kg. The March 2026 contract gained ₹4,992 or 3.39% to ₹1,52,011 per kg, after reaching an all-time high of ₹1,54,959 per kg last week.

Global Market Tensions and Festive Season Buoy Sentiment

In the global market, gold futures for December delivery increased over 2% to reach a record USD 4,096.06 per ounce, while Comex silver advanced 4.65% to trade near USD 49.44 per ounce, close to its record USD 49.96 per ounce from last week.

Prolonged US Government Shutdown Reinforces Safe Haven

Market sentiment turned risk-averse after US President Donald Trump threatened to impose 100% tariffs on Chinese exports and restrict key software exports from November 1. The US government shutdown has now stretched into another week, depriving markets of key economic data and reinforcing expectations of further Federal Reserve rate cuts this year. A broad sell-off in global equities also strengthened safe-haven demand, according to Rahul Kalantri, Vice-President of Commodities at Mehta Equities.

Investors are now awaiting the US Consumer Price Index (CPI) data for cues on inflation and monetary policy direction. Comments from Federal Reserve Chair Jerome Powell, scheduled for Tuesday, are expected to guide short-term market sentiment for precious metals.

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

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

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