Gold Hits ₹1.11 Lakh per 10g in Futures Amid Market Watch on US Inflation Data
Strong global cues and upcoming US economic indicators drive bullion prices to record peaks in domestic futures markets.
New Delhi, Sep 22: Gold prices surged past ₹1.11 lakh per 10 grams in the domestic futures market on Monday, gaining ₹799 amid robust global cues and investor anticipation of key US inflation data and Federal Reserve statements.
On the Multi Commodity Exchange (MCX), December gold futures climbed ₹799, or 0.72%, to a record ₹1,11,750 per 10 grams, while October delivery contracts rose ₹761, or 0.69%, to ₹1,10,608 per 10 grams. Last week, gold futures had already touched a previous high of ₹1,10,666 per 10 grams.
Silver also reached all-time highs, with March 2026 delivery futures rallying ₹2,446, or 1.86%, to ₹1,33,582 per kilogram. The most traded December contracts gained ₹2,473, or 1.9%, to ₹1,32,311 per kg. Analysts attributed the gains to rupee weakness and subdued domestic equity sentiment.
Globally, gold futures rose USD 26.82, or 0.72%, to USD 3,732.62 per ounce, after touching a lifetime high of USD 3,744 last week. “Gold prices edged up near record levels as investors await US inflation data and Federal Reserve guidance for policy direction,” said Jigar Trivedi, Senior Research Analyst, Reliance Securities.
The US Federal Reserve’s first rate cut of the year and signals for further easing, combined with geopolitical tensions, trade concerns, and central bank purchases, have supported the rally.
Silver’s rally has been sharper than gold, fueled by investment flows and industrial demand in sectors like electric vehicles, 5G infrastructure, solar panels, and battery storage, said Riya Singh, Research Analyst at Emkay Global Financial Services. Supply constraints have further bolstered prices.
Pranav Mer, Vice President of EBG Commodity & Currency Research, JM Financial Services, projected silver in domestic markets could rise further to test ₹1,40,000–1,50,000 per kilogram.
