New Delhi: Gold prices crossed the ₹1.11 lakh mark per 10 grams in domestic futures trade on Monday, surging ₹799, as strong global cues lifted investor sentiment ahead of crucial US inflation data and comments from several Federal Reserve officials this week.
On the Multi Commodity Exchange (MCX), gold futures for December delivery rose ₹799, or 0.72%, to a record ₹1,11,750 per 10 grams. Meanwhile, the most actively traded October contracts gained ₹761, or 0.69%, to ₹1,10,608 per 10 grams, after hitting a fresh peak of ₹1,10,666 last week.
Silver also reached new highs. March 2026 silver futures jumped ₹2,446, or 1.86%, to an all-time high of ₹1,33,582 per kilogram, while December contracts surged ₹2,473, or 1.9%, to ₹1,32,311 per kg. Traders attributed the gains to a weaker rupee and subdued domestic equity markets, which bolstered bullion demand.
Globally, gold futures climbed USD 26.82, or 0.72%, to USD 3,732.62 per ounce, following last week’s lifetime high of USD 3,744 per ounce.
“Gold prices edged up near record levels as investors awaited key US inflation data and Fed commentary for further policy direction,” said Jigar Trivedi, Senior Research Analyst at Reliance Securities.
Last week, the US Federal Reserve delivered its first rate cut of the year and indicated more reductions ahead amid a weakening labor market. “Markets currently imply two more rate cuts this year—one in October and another in December—supporting bullion’s 40% surge so far in 2025,” Trivedi added. Safe-haven demand amid geopolitical tensions, concerns over US tariffs, strong central bank buying, and sustained ETF inflows also supported gold prices.
Silver futures for December delivery were trading 2.17% higher at USD 43.88 per ounce. “Silver has shown a more aggressive trajectory than gold, driven by investment flows, solar panel demand, and industrial use in electric vehicles, 5G infrastructure, and battery storage,” said Riya Singh, Research Analyst at Emkay Global Financial Services. She noted that muted supply growth makes the market vulnerable to disruptions.
Pranav Mer, Vice President of Commodity & Currency Research at JM Financial Services, projected that domestic silver prices could test ₹1,40,000–1,50,000 per kilogram on the MCX.
