Gold surges Rs 2,404 to record Rs 1.05 lakh, silver hits all-time high at Rs 1.23 lakh per kg
PTC Web Desk: Gold and silver prices scaled fresh record highs on the Multi Commodity Exchange (MCX) on Monday (September 1), driven by robust demand, a weakening dollar, and growing expectations of a US Federal Reserve rate cut later this month. Heightened uncertainty around US President Donald Trump’s tariff stance has also reinforced bullion’s safe-haven appeal. On MCX, October gold futures surged 2% to an all-time high of Rs 1,05,937 per 10 grams, while December silver futures advanced nearly 2% to ₹1,24,214 per kg.
By 9.50 am, gold was trading at Rs 1,04,883 per 10 gram (up 1.02%), and silver stood at Rs 1,24,079 per kg (up 1.81%).
Experts noted that gold registered its strongest weekly gain since May 2025, rising over 3.4%.
Market sentiment has been buoyed by speculation that the Federal Reserve will cut rates by 25 basis points at its upcoming meeting on September 16–17. Meanwhile, the US dollar weakened more than 2% in August, making gold cheaper for buyers using other currencies and further supporting demand.
Impact on Investors
With bullion at record highs, investors are advised to remain cautious. Experts suggest closely tracking global monetary policy developments, the dollar’s movement, and geopolitical risks before making fresh allocations to gold and silver.
- With inputs from agencies
