Gold Soars to Record Rs 1.27 Lakh per 10g, Surpasses USD 4,200/Ounce on Fed Rate Cut Hopes
Safe-haven demand, US-China trade tensions, and expectations of US monetary easing push gold and silver to all time highs.
New Delhi, Oct 15: Gold prices surged to a historic high on Wednesday, climbing Rs 1,244 to reach Rs 1,27,500 per 10 grams in domestic futures trade. In global markets, the yellow metal breached the USD 4,200 per ounce mark, driven by safe haven demand amid renewed geopolitical and trade tensions.
On the Multi Commodity Exchange (MCX), gold futures for December delivery rose 0.98% to Rs 1,27,500 per 10 grams, extending gains for the fourth consecutive session. February 2026 contracts also hit a record Rs 1,28,435 per 10 grams, up 0.73%.
Silver futures mirrored the rally, with December delivery climbing Rs 1,256 (0.78%) to Rs 1,60,760 per kilogram. The March 2026 silver contract increased by Rs 940, or 0.59%, to Rs 1,60,522 per kilogram.
Globally, Comex gold futures surged nearly 2% to USD 4,211 per ounce. Comex silver for December delivery also rose 1.29% to USD 51.27 per ounce.
Analysts attributed the rally to heightened safe-haven demand and expectations of US monetary easing. Federal Reserve Chair Jerome Powell’s recent comments hinted at potential rate cuts later this year, boosting investor appetite for bullion.
The latest escalation in US-China trade tensions further strengthened gold’s appeal. US President Donald Trump accused China of ‘economically hostile’ actions, including halting soybean imports, prompting fears of further retaliatory measures.
“Gold prices climbed to USD 4,200 per ounce as investors sought safety and ramped up bets on additional US monetary easing,” said Jigar Trivedi, Senior Research Analyst at Reliance Securities.
The bullion rally also follows IMF’s improved global growth forecast for 2025, though it warned that ongoing trade frictions, particularly between the US and China, could threaten global economic stability.
