Editor’s Note
Gold futures have surged to a new record high in domestic trading, reflecting ongoing market volatility and investor sentiment. While gold continues its upward trajectory, silver prices have experienced a slight dip. This movement underscores the contrasting dynamics within precious metals markets amid broader economic uncertainty.
Gold has once again touched a new record high level in the domestic futures market. Meanwhile, silver prices have seen a slight decline.
Amid volatility in the stock market, gold prices have been rising continuously. On Wednesday, gold prices once again reached new record levels. In the domestic futures market, it reached ₹106,199 per 10 grams. At 10:17 AM, the October 3 contract expiry gold on the Multi Commodity Exchange (MCX) was trading at ₹106,115 per 10 grams, up by ₹323. Previously, on Tuesday, it had closed at the level of ₹105,792.
Meanwhile, futures silver prices have seen a marginal decline. On MCX, it was trading cheaper by ₹19 at ₹122,622 per kilogram. Previously, on Tuesday, it had closed at the level of ₹122,641. This surge in gold prices has come due to expectations of an interest rate cut by the US Federal Reserve in September and concerns related to Trump’s tariff policy. Gold also set a new record in the international market. US gold futures reached $3,616.70 per troy ounce.
According to global news agency Reuters, the CME Group’s FedWatch Tool indicates that the market is pricing in a 92% probability that the Fed could cut interest rates by 25 basis points this month. Additionally, uncertainty surrounding US President Donald Trump’s tariff policy has also increased the demand for gold. In fact, on Monday, a US federal appeals court had termed the Trump tariffs as improper. The court had said that Trump had misused his presidential authority.
According to the Indian Bullion Jewellers Association, 24-carat gold is being sold at ₹104,420 per 10 grams in the country today, while 22-carat gold is at ₹101,920 per 10 grams. Meanwhile, the price of silver is ₹122,833 per kilogram.