Gold futures on the Multi-Commodity Exchange (MCX) scaled a new lifetime high on Wednesday, surging to Rs 1,22,101/10 grams for the 5th December 2025 contract. The historic surge, up Rs 819 or 0.68% for the day, underscores the strong investor appetite for safe-haven assets amid intensifying global uncertainties and expectations of monetary easing.
Silver futures too joined the rally, rising Rs 1,221 to Rs 1,47,013 per kg.
Gold smashed through $4,000 an ounce to hit a record high on Wednesday, driven by investors seeking safety from mounting economic and geopolitical uncertainty, alongside expectations of further interest rate cuts by the U.S. Federal Reserve.
Spot gold was up 0.3% at $3,997.09 per ounce by 0202 GMT, after hitting an all-time high of $4,000.96. U.S. gold futures for December delivery gained 0.4% to $4,020.00 per ounce.
Traditionally, gold is seen as a store of value during times of instability. Spot gold is up 52% year-to-date after rising 27% in 2024.
A clutch of factors, such as higher central bank purchases, renewed interest in gold-backed exchange-traded funds, a softer U.S. dollar and resilient retail demand, have fueled the metal's bullish run.
Analysts believe that a "fear of missing out" is also boosting the rally in gold.
On Tuesday, gold and silver settled on a mixed note in the domestic market and international markets. Gold December futures contract settled at Rs 1,21,111 per 10 grams with a gain of 0.72% while silver December futures contract settled at Rs 1,45,792 per kilogram with a loss of 1.17%.
Gold prices crossed $4,000 level for the first time on Tuesday.
Gold and silver showed very high price volatility and settled on a mixed note amid a rebound in the dollar index and ahead of the Fed meeting minutes. The dollar index hit a 3-week high ahead of the Fed meeting minutes and triggers profit taking in both precious metals.
Today, the US Dollar Index, DXY, was hovering near the 98.87 mark, gaining 0.29 or 0.29%.
“However, political turmoil in France, economic worries in Japan and Argentina, the U.S. shutdown and escalation in the Russia-Ukraine war are supporting safe-haven buying for precious metals,” said Manoj Kumar Jain of Prithvifinmart Commodity Research.
The People’s Bank of China bought gold for the 11th consecutive month in September and other central banks are also accumulating gold to protect their currencies and support precious metal prices.
How to trade gold?
Manoj Kumar Jain suggested the following ranges for gold and silver on MCX:
Gold rates in physical markets
Gold Price today in Delhi
Standard gold (22 carat) prices in Delhi stand at Rs 91,328/8 grams while pure gold (24 carat) prices stand at Rs 98,168/8 grams.
Gold Price today in Mumbai
Standard gold (22 carat) prices in Mumbai stand at Rs 90,360/8 grams while pure gold (24 carat) prices stand at Rs 97,192/8 grams.
Gold Price today in Chennai
Standard gold (22 carat) prices in Chennai stand at Rs 89,912/8 grams while pure gold (24 carat) prices stand at Rs 96,704/8 grams.
Gold Price today in Hyderabad
Standard gold (22 carat) prices in Hyderabad stand at Rs 90,104/8 grams while pure gold (24 carat) prices stand at Rs 96,808/8 grams.
( Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times
Silver futures too joined the rally, rising Rs 1,221 to Rs 1,47,013 per kg.
Gold smashed through $4,000 an ounce to hit a record high on Wednesday, driven by investors seeking safety from mounting economic and geopolitical uncertainty, alongside expectations of further interest rate cuts by the U.S. Federal Reserve.
Spot gold was up 0.3% at $3,997.09 per ounce by 0202 GMT, after hitting an all-time high of $4,000.96. U.S. gold futures for December delivery gained 0.4% to $4,020.00 per ounce.
Traditionally, gold is seen as a store of value during times of instability. Spot gold is up 52% year-to-date after rising 27% in 2024.
A clutch of factors, such as higher central bank purchases, renewed interest in gold-backed exchange-traded funds, a softer U.S. dollar and resilient retail demand, have fueled the metal's bullish run.
Analysts believe that a "fear of missing out" is also boosting the rally in gold.
On Tuesday, gold and silver settled on a mixed note in the domestic market and international markets. Gold December futures contract settled at Rs 1,21,111 per 10 grams with a gain of 0.72% while silver December futures contract settled at Rs 1,45,792 per kilogram with a loss of 1.17%.
Gold prices crossed $4,000 level for the first time on Tuesday.
Gold and silver showed very high price volatility and settled on a mixed note amid a rebound in the dollar index and ahead of the Fed meeting minutes. The dollar index hit a 3-week high ahead of the Fed meeting minutes and triggers profit taking in both precious metals.
Today, the US Dollar Index, DXY, was hovering near the 98.87 mark, gaining 0.29 or 0.29%.
“However, political turmoil in France, economic worries in Japan and Argentina, the U.S. shutdown and escalation in the Russia-Ukraine war are supporting safe-haven buying for precious metals,” said Manoj Kumar Jain of Prithvifinmart Commodity Research.
The People’s Bank of China bought gold for the 11th consecutive month in September and other central banks are also accumulating gold to protect their currencies and support precious metal prices.
How to trade gold?
Manoj Kumar Jain suggested the following ranges for gold and silver on MCX:
- Gold has support at Rs 1,20,400-1,19,800 and resistance at Rs 1,21,800-1,22,500
- Silver has support at Rs 1,44,700-1,43,850 and resistance at Rs 1,47,000-1,48,200
Gold rates in physical markets
Gold Price today in Delhi
Standard gold (22 carat) prices in Delhi stand at Rs 91,328/8 grams while pure gold (24 carat) prices stand at Rs 98,168/8 grams.
Gold Price today in Mumbai
Standard gold (22 carat) prices in Mumbai stand at Rs 90,360/8 grams while pure gold (24 carat) prices stand at Rs 97,192/8 grams.
Gold Price today in Chennai
Standard gold (22 carat) prices in Chennai stand at Rs 89,912/8 grams while pure gold (24 carat) prices stand at Rs 96,704/8 grams.
Gold Price today in Hyderabad
Standard gold (22 carat) prices in Hyderabad stand at Rs 90,104/8 grams while pure gold (24 carat) prices stand at Rs 96,808/8 grams.
( Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times
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