New Delhi
Gold prices soared to a record ₹1,38,676 per 10 grams in futures trade on Wednesday, while international prices crossed $4,500 per ounce amid expectations of further US Federal Reserve easing and rising geopolitical tensions. February gold futures on the Multi Commodity Exchange (MCX) gained ₹791, or 0.57%, marking the third consecutive session of gains.
Silver futures also surged for the fourth straight day. The March 2026 contract climbed ₹4,234, or 1.93%, to reach a new peak of ₹2,23,887 per kilogram. On global markets, Comex gold futures rose $49.4, or 1.10%, to touch $4,555.1 per ounce, while silver for the same contract increased $1.61, or 2.23%, to $72.75 per ounce.
Jigar Trivedi, Senior Research Analyst at Reliance Securities, noted that safe-haven demand is rising due to geopolitical tensions and expectations of two US rate cuts in 2026 as inflation cools and employment growth moderates. The ongoing rally reflects concerns over global uncertainties and strong central bank buying.
Gold has gained around 70% this year, tracking its strongest annual rise since 1979, supported by inflows into gold-backed funds. Analysts say sustained demand and cautious investor sentiment continue to drive the metal higher, with geopolitical risks further fueling buying in both domestic and international markets.
