Gold breaches Rs 1.11 lakh per 10 gram in futures trade. Here's why
&imwidth=600&imheight=450&format=webp&quality=medium "Gold breaches Rs 1.11 lakh per 10 gram in futures trade. Here's why")
Gold prices have been hitting their highs in 2025. Photograph: (AFP file)
Gold prices surged today: On India's Multi-Commodity Exchange (MCX), gold futures for December climbed Rs 799, breaching the Rs 1,11,750 mark.
Gold prices jumped by Rs 799 in the domestic futures market on Monday, ending the day at a high of Rs 1.11 lakh per 10 grams. The prices surged as investors, tracking strong global cues, anticipate key US inflation data and comments from several Federal Reserve officials this week.
On India's Multi-Commodity Exchange (MCX), gold futures for December climbedRs 799, breaching the Rs 1,11,750 mark. Metal futures for October increased by Rs 761 to reach Rs 1,10,608 per 10 grams. Last week, it had peaked as it reached Rs 1,10,666 per 10 grams.
Silver also hit record prices on March futures. It rallied Rs 2,446 or 1.86 per cent to hit an all-time high of Rs 1,33,582 per kilogram, reported PTI.
Silver futures for December surged by Rs 2,473, hitting a fresh peak of Rs 1,32,311 per kg. Experts said weakness in the rupee and low sentiment in the equity markets also led to a rally in the futures market.
Internationally, gold futures increased by $26.82 to reach $3,732.62 per ounce. It was, however, less than the lifetime high of $3,744 per ounce.
Why did gold rally?
Trending Stories
)
&im=FitAndFill=(700,400))
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
&im=FitAndFill=(700,400))
)
)
&im=FitAndFill=(700,400))
)
)
)
&im=FitAndFill=(700,400))
&im=FitAndFill=(700,400))
)
)
)
Jigar Trivedi, Senior Research Analyst at Reliance Securities, told the news agency that gold prices reached record levels because investors looked ahead to key US inflation data and comments from several Federal Reserve officials this week. He said that the investors were looking for policy guidance.
The US Federal Reserve cut its policy rates by 25 basis points. The markets are anticipating two more cuts this year, in October and another in December.
"Expectations of continued monetary policy easing provided a major boost to bullion's 40 per cent surge so far this year," he said.
Gold has also been supported by the demand as investors consider it a safer investment amid geopolitical tensions and economic uncertainty.