Gold Hits Record ₹1,28,395 per 10g on MCX; Global Prices Cross $4,250/oz

New Delhi, October 16, 2025 – Gold prices reached new record highs on Thursday, spiking ₹1,185 to ₹1,28,395 per 10 grams in local futures trade. The upsurge was in line with the global trend, with international gold prices crossing $4,250 per ounce on expectations of US Federal Reserve rate reductions and geopolitical tensions.

Domestic Market Reaches Historic High

At the Multi Commodity Exchange (MCX), December gold futures rose ₹1,185, or 0.93%, to an all-time high of ₹1,28,395 per 10 grams. The February 2026 contract continued the rally for a fifth straight session, rising ₹977, or 0.76%, to a record ₹1,29,380 per 10 grams. Market players explained the consistent uptrend due to revived hopes for a dovish Fed stance coupled with persistent global uncertainty that continues to fuel demand for havens.

Silver Rallies to Record High

Silver futures too hit all-time highs, keeping pace with gold’s rally. The December contract jumped ₹2,454, or 1.51%, to an all-time high of ₹1,64,660 per kg on MCX, and the March 2026 contract rose ₹2,699, or 1.6%, to a new lifetime high of ₹1,64,958 per kg.

Global Prices at New Highs

On the global market, Comex gold futures rose to $4,254.80 per ounce, continuing their dramatic ascendance. Silver futures also rose to $52.86 per ounce. A soft dollar index, down 0.17% to 98.63, helped fuel additional demand for bullion, making these precious metals more attractive.

Broader Market Context

The bullion price rally is timed with increased world tensions and increased wagers on a coming Fed rate reduction, possibly later this month or in December. A weakening US dollar, added to central bank demand and fears of increasing world debt, has added weight to the prospects for gold and silver.

Diplomatic tensions between Washington and Beijing intensified following US disapproval of China’s restrictions on the export of rare earth and possible retaliatory measures on Russian oil commerce, fueling investor wariness. These events have spurred a renewed rush for safe-haven assets, inducing successive sessions of record-breaking gains in gold and silver. Investors are watching closely the Fed’s next step, which could further drive prices in weeks to come.

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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