Gold rate today : Gold prices continued their upward move on Monday, with gold futures crossing the Rs 1.23 lakh mark. Gold prices climbed by Rs 2,613 to reach a new record of Rs 1,23,977 per 10 grams in domestic futures trading. This surge was attributed to renewed trade tensions between the US and China, an extended US government shutdown, and increasing global economic uncertainties, which enhanced the appeal of safe-haven assets.
In MCX trading, gold futures for December delivery rose by Rs 2,613 (2.15 per cent) to establish a new record of Rs 1,23,977 per 10 grams. Similarly, the February 2026 contract increased by Rs 2,296 (1.87 per cent), trading near its all-time high at Rs 1,24,999 per 10 grams, after reaching Rs 1,25,025 per 10 grams on Thursday.
The previous week saw gold prices increase by Rs 3,251 (2.75 per cent), achieving a record of Rs 1,23,677 per 10 grams on Thursday, before experiencing slight profit-taking at the week's end.
Silver futures demonstrated robust performance on Monday, with the December delivery contract rising by Rs 5,856 (4 per cent) to Rs 1,52,322 per kilogram on MCX, approaching its peak of Rs 1,53,388 per kg recorded on Thursday.
The March 2026 silver futures contract increased by Rs 4,992 (3.39 per cent) to Rs 1,52,011 per kg, following its record of Rs 1,54,959 per kg in the previous week. Silver prices on MCX had registered a gain of Rs 722 (0.49 per cent) in the preceding week.
"Uncertainty regarding the current US government shutdown, which remains unresolved, will be significant. Within India, the forthcoming Diwali celebrations could potentially increase gold demand as festival shoppers return," said Aksha Kamboj, Vice President, India Bullion and Jewellers Association and Executive Chairperson, Aspect Global Ventures, according to a PTI report.
In global markets, gold futures for December delivery increased by over 2 per cent, reaching an all-time peak of $4,096.06 per ounce on Monday.
"Gold values advanced to $4,090 per ounce on Monday, maintaining near-record levels, as intensified US-China trade disputes and widespread economic instability increased safe-haven investments," noted Jigar Trivedi, Senior Research Analyst at Reliance Securities.
What are gold prices rising?
US President Donald Trump announced on Friday plans to implement additional 100 per cent tariffs on Chinese exports and introduce new export restrictions on critical software from November 1.
The ongoing US government shutdown has extended into another week, depriving traders of essential macroeconomic data necessary for evaluating economic conditions.
"Market participants widely expect the Federal Reserve to deliver an additional 25 basis points interest rate cuts at each of its remaining meetings this year," Trivedi said.
The December delivery of Comex silver futures surged by 4.65 per cent, reaching near its record at $49.44 per ounce, following an unprecedented peak of $49.96 per ounce on Thursday.
"A heavy sell-off in global equity markets also supported safe-haven demand for precious metals," stated Rahul Kalantri, Vice-President of Commodities at Mehta Equities.
The upcoming US Consumer Price Index (CPI) inflation data will be the next focal point for investors seeking insights into monetary policy direction.
"Traders are also awaiting comments from US Federal Reserve officials, including Chair Jerome Powell, scheduled for Tuesday, which could provide further direction to gold prices in the near term," an expert said.
(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
In MCX trading, gold futures for December delivery rose by Rs 2,613 (2.15 per cent) to establish a new record of Rs 1,23,977 per 10 grams. Similarly, the February 2026 contract increased by Rs 2,296 (1.87 per cent), trading near its all-time high at Rs 1,24,999 per 10 grams, after reaching Rs 1,25,025 per 10 grams on Thursday.
The previous week saw gold prices increase by Rs 3,251 (2.75 per cent), achieving a record of Rs 1,23,677 per 10 grams on Thursday, before experiencing slight profit-taking at the week's end.
Silver futures demonstrated robust performance on Monday, with the December delivery contract rising by Rs 5,856 (4 per cent) to Rs 1,52,322 per kilogram on MCX, approaching its peak of Rs 1,53,388 per kg recorded on Thursday.
The March 2026 silver futures contract increased by Rs 4,992 (3.39 per cent) to Rs 1,52,011 per kg, following its record of Rs 1,54,959 per kg in the previous week. Silver prices on MCX had registered a gain of Rs 722 (0.49 per cent) in the preceding week.
"Uncertainty regarding the current US government shutdown, which remains unresolved, will be significant. Within India, the forthcoming Diwali celebrations could potentially increase gold demand as festival shoppers return," said Aksha Kamboj, Vice President, India Bullion and Jewellers Association and Executive Chairperson, Aspect Global Ventures, according to a PTI report.
In global markets, gold futures for December delivery increased by over 2 per cent, reaching an all-time peak of $4,096.06 per ounce on Monday.
"Gold values advanced to $4,090 per ounce on Monday, maintaining near-record levels, as intensified US-China trade disputes and widespread economic instability increased safe-haven investments," noted Jigar Trivedi, Senior Research Analyst at Reliance Securities.
What are gold prices rising?
US President Donald Trump announced on Friday plans to implement additional 100 per cent tariffs on Chinese exports and introduce new export restrictions on critical software from November 1.
The ongoing US government shutdown has extended into another week, depriving traders of essential macroeconomic data necessary for evaluating economic conditions.
"Market participants widely expect the Federal Reserve to deliver an additional 25 basis points interest rate cuts at each of its remaining meetings this year," Trivedi said.
The December delivery of Comex silver futures surged by 4.65 per cent, reaching near its record at $49.44 per ounce, following an unprecedented peak of $49.96 per ounce on Thursday.
"A heavy sell-off in global equity markets also supported safe-haven demand for precious metals," stated Rahul Kalantri, Vice-President of Commodities at Mehta Equities.
The upcoming US Consumer Price Index (CPI) inflation data will be the next focal point for investors seeking insights into monetary policy direction.
"Traders are also awaiting comments from US Federal Reserve officials, including Chair Jerome Powell, scheduled for Tuesday, which could provide further direction to gold prices in the near term," an expert said.
(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
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