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New Delhi: On September 29, 2025, gold and silver futures in India surged to unprecedented levels, driven by expectations of U.S. Federal Reserve rate cuts and a weakening U.S. dollar.
Gold Futures Break Records
The December gold futures contract on the Multi Commodity Exchange (MCX) reached an all-time high of Rs 1,15,939 per 10 grams, while the October contract also set a record at Rs 1,14,992 per 10 grams. Silver futures for December delivery climbed to Rs 1,44,179 per kilogram, marking a significant increase.
Factors Driving the Surge
Monetary Easing Expectations: Traders are pricing in a 90 percent chance of a Federal Reserve rate cut in October and a 65 percent probability of another in December.
Geopolitical Tensions: Ongoing issues such as the Russia-Ukraine conflict and U.S.-China trade tensions have added to market volatility.
Tariff Announcements: Recent U.S. tariffs on imported goods, effective October 1, have further impacted market sentiment.
Market Outlook
Experts suggest that the combination of these factors is likely to keep gold and silver prices elevated in the near term. Investors are advised to stay informed about global economic developments and consider the potential impact on commodity markets.
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