Gold Prices Soar to Fresh Record
Gold just can’t stop shining. On Wednesday morning, the yellow metal hit a new all-time high of ₹1,27,500 per 10 grams on the Multi Commodity Exchange (MCX) — its highest ever — as global investors rushed to the safety of bullion.
At around 9:10 AM, MCX gold was up by ₹579 (0.46%), trading at ₹1,26,835 per 10 grams, while silver also gained momentum, rising 0.52% to ₹1,60,333 per kg after touching a day’s high of ₹1,61,418.
Why Gold Is Rising So Fast
Gold’s jaw-dropping rally isn’t random — it’s being driven by a perfect mix of global events. Prices have jumped 55% year-to-date, reaching a record $4,179.48 per ounce in global markets this week.
Here’s what’s fueling the surge:
- Geopolitical tensions — especially renewed US-China trade friction.
- US Federal Reserve rate cut hopes, which typically weaken the dollar and boost gold.
- Strong central bank buying, led by countries diversifying from the US dollar.
- Growing investor interest in ETFs that track gold.
- A rising “de-dollarisation” trend, with more global trade being settled outside the greenback.
“Investors are seeking safety as markets look shaky again,” said Jigar Trivedi,Senior Research Analyst at Reliance Securities. “Expectations of Fed easing and US-China tensions are adding fuel to the rally.”
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Global Gold and Silver Trends
In international trade, spot gold was hovering near record highs at $4,155.99 per ounce, while US gold futures for December delivery rose 0.3% to $4,174.30. Silver wasn’t left behind either — it surged past $52 per ounce, its highest level in years.
Experts believe the rally could extend further if the US Fed signals multiple rate cuts in its upcoming meetings.
What Analysts Are Saying
According to Trivedi, MCX gold (December futures) could climb further to ₹1,27,500 per 10 grams, citing a weak rupee and continued bullishness in global markets.
Rahul Kalantri, VP of Commodities at Mehta Equities, noted key price levels to watch:
- Gold support: ₹1,25,470 – ₹1,24,580
- Gold resistance: ₹1,27,150 – ₹1,27,900
- Silver support: ₹1,57,950 – ₹1,56,150
- Silver resistance: ₹1,60,850 – ₹1,61,950
He added, “Investors should keep an eye on Fed commentary and geopolitical newsflow — both are major triggers for short-term volatility.”
US-China Tensions Add More Spark
If the gold rally needed one more push, it came from Washington.
US President Donald Trump hinted at cutting trade ties with China, including restrictions on cooking oil imports, reigniting trade war fears. Both nations have already started imposing new port fees, adding to the uncertainty — and gold loves uncertainty.
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Should You Invest Now?
While experts see more upside in the near term, investors are advised to tread carefully. Gold may remain volatile around Fed meetings, and corrections can follow sharp rallies.
Still, analysts agree that the long-term trend remains bullish, especially as global economies prepare for lower interest rates and potential inflation spikes.
