New Delhi
Gold prices surged to an all-time high of ₹1,20,900 per 10 grams on Tuesday, rising by ₹651 or 0.54%, driven by global market optimism, the ongoing US government shutdown, and expectations of Federal Reserve rate cuts. On the Multi Commodity Exchange (MCX), December delivery gold climbed to ₹1,20,900, while the February 2026 contract hit a new peak of ₹1,22,231 per 10 grams.
Analysts attributed the rally to economic and political instability in the US and speculation over imminent interest rate reductions. Silver prices also strengthened, gaining ₹281 to trade near ₹1,47,800 per kilogram, with March 2026 futures touching ₹1,49,500.
In international trade, Comex gold futures for December crossed the $4,000 per ounce mark, up nearly 1%, while silver slightly eased to $48.43 per ounce.
Experts noted that the US government shutdown disrupted federal data releases, amplifying uncertainty and driving investors toward gold. Continued central bank buying has further supported prices, with the World Gold Council reporting a 15-tonne rise in global reserves in August. The People’s Bank of China also extended its bullion purchases for the 11th straight month, reinforcing the global demand for gold as a safe-haven asset.
