On the Multi Commodity Exchange (MCX), the yellow metallic futures for December supply elevated by ₹2,442, or 1.88%, to hit a lifetime excessive of ₹1,32,294 per 10 grams.
Similarly, the February 2026 contract for gold futures rallied by ₹2,927, or 2.23%, to hit a contemporary peak of ₹1,34,024 per 10 grams, marking its sixth straight session of beneficial properties.
“Gold costs proceed to surge, reaching new document highs as considerations a couple of potential credit score disaster within the U.S. outweigh optimism over a probable enchancment in U.S.-Russia relations. A weaker U.S. greenback and expectations of rate of interest cuts by the Federal Reserve are additionally supporting the rally,” Darshan Desai, Chief Executive Officer of Aspect Bullion & Refinery, stated.
Silver too joined the rally, scaling contemporary peaks on the MCX. The white metallic for December supply jumped by ₹2,752, or 1.64%, to hit a document of ₹1,70,415 per kilogram.
The March 2026 contract for silver prolonged beneficial properties for the fifth straight session by bouncing ₹3,274, or 1.93%, to achieve an all-time excessive of ₹1,72,350 per kg on the commodities bourse.
In the worldwide markets, Comex futures surged sharply as effectively. The yellow metallic for December supply gained $71.09, or 1.65%, to $4,375.69 per ounce on Friday (October 17, 2025), after breaching the $4,300 per ounce degree a day earlier. It later touched an intraday document excessive of $4,391.69 per ounce.
“Gold breached the $4,300 per ounce mark for the primary time ever. The steady move of safe-haven shopping for and robust technical momentum are driving each metals increased. The sustained bullish sentiment has sidelined market bears, highlighting the sturdy upward bias in each metals,” stated Rahul Kalantri, Vice-President of Commodities at Mehta Equities Ltd.
Jigar Trivedi, Senior Research Analyst at Reliance Securities, stated, “The yellow metallic is on observe for a pointy weekly advance, the strongest within the present nine-week rally, as buyers sought security amid heightened financial uncertainties.”
On the opposite hand, Comex silver futures for December supply traded marginally increased at $53.38 per ounce, after hitting a document of $53.76 per ounce within the earlier market session.
Mr. Trivedi added that bullion repeatedly hit new highs this week, pushed by renewed U.S.-China commerce tensions and considerations over the continued U.S. authorities shutdown.
“The treasured metallic was additional supported by Federal Reserve Chair Jerome Powell’s current remarks, which pointed to indicators of a weakening labour market, main buyers to almost absolutely worth in a 25 foundation level lower later this month, with one other seemingly in December. Gold has now surged greater than 65% to this point this yr, bolstered by central financial institution purchases, exchange-traded fund (ETF) inflows, and robust demand for secure property,” he added.
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