Gold costs bounce 535 to file 1,17,800/10g on U.S. govt shutdown, Fed reduce hopes

Gold futures on Wednesday jumped ₹535 to a file ₹1,17,800 per 10 grams in home futures commerce, monitoring robust world cues as buyers sought safe-haven property after the U.S. authorities shut down, whereas weak labour knowledge fuelled expectations of charge cuts by the U.S. Federal Reserve.

On the Multi Commodity Exchange (MCX), gold futures for December supply jumped ₹535 or 0.45% to the touch a file ₹1,17,800 per 10 grams.

The February contract prolonged the rally for fifth straight session by rising ₹617 or 0.52% to hit a lifetime excessive of ₹1,19,055 per 10 grams.

Silver futures additionally posted robust advances. The December contract surged ₹2,699 or 1.89% to hit a contemporary peak of ₹1,44,844 per kilogram, whereas the March 2026 contract bounced ₹3,980 or 2.77% to the touch a file excessive of ₹1,47,784 per kg.

Analysts attributed the sharp rise to heightened demand for safe-haven property after the U.S. Senate didn’t go a spending invoice, triggering the primary authorities shutdown since 2018. The closure has raised issues over delays in key financial knowledge, together with the essential nonfarm payrolls report due later this week.

“Gold hit a record high as investors turned to safe-haven assets on growing risks after the US government shutdown, while weak labour data strengthened expectations of further interest rate cuts by the Federal Reserve,” stated Manav Modi, Analyst – Precious Metal, Motilal Oswal Financial Services.

On the worldwide entrance, Comex gold for December supply rose almost 1 per cent to breach the $3,900 per ounce degree for the primary time, touching a peak of $3,903.45 per ounce. Silver futures for December supply additionally rallied to hit a excessive of $47.81 per ounce.

Jigar Trivedi, Senior Research Analyst at Reliance Securities, stated merchants are intently watching the period of the shutdown in addition to the US Federal Reserve’s (Fed) coverage path.

“Traders are pricing in a near-certain chance of a rate reduction at the next meeting, with around a 76% probability of an additional cut in December,” Trivedi famous.

Meanwhile, the greenback index, which gauges the dollar’s energy towards a basket of six currencies, was buying and selling at 97.62, decrease by 0.16%.

A subdued greenback additionally supported bullion costs. “The dollar index, which tracks the greenback against six major currencies, hovered near a one-week low, making gold cheaper for holders of other currencies,” he added.