Gold Futures Soar to Unprecedented ₹1.32 Lakh per 10g as Global Concerns Rise
Gold futures have experienced a remarkable surge, reaching an unprecedented ₹1.32 lakh per 10 grams in India. On October 16, 2025, the price rose by ₹2,442, marking a historic high in domestic futures trading. This increase is largely attributed to heightened global economic uncertainties and the anticipation of monetary easing by the U.S. Federal Reserve.
Market Overview
On the Multi Commodity Exchange (MCX), gold futures set a new record. For delivery in December, the price increased 1.88%, hitting ₹1,32,294 per 10 grams. The February 2026 gold futures also saw significant gains, climbing by ₹2,927 or 2.23%, reaching ₹1,34,024 per 10 grams. Analysts highlight a strong demand for gold as a safe haven, particularly amid concerns over a potential credit crisis in the U.S.
Expert Insights
Darshan Desai, CEO of Aspect Bullion & Refinery, noted that the ongoing fears of economic instability are overshadowing optimism regarding U.S.-Russia relations. The weaker U.S. dollar and anticipated interest rate cuts from the Federal Reserve are further stimulating the gold rally.
Silver Prices Also Rise
- Silver futures for December delivery rose by ₹2,752, or 1.64%, reaching ₹1,70,415 per kilogram.
- The March 2026 silver contract jumped ₹3,274, or 1.93%, attaining a record ₹1,72,350 per kg.
International Developments
In the international market, Comex futures also showed a sharp increase. Gold for December delivery gained $71.09, or 1.65%, closing at $4,375.69 per ounce on October 17, 2025. It even peaked at an intraday high of $4,391.69 per ounce. This marks a significant milestone, as gold has breached the $4,300 mark for the first time.
Market Trends
Rahul Kalantri, Vice-President of Commodities at Mehta Equities Ltd, commented on the strong technical momentum and safe-haven buying that are driving prices higher. The ongoing U.S.-China trade tensions and the U.S. government shutdown are contributing to bullish sentiment in the market.
Future Outlook
Jigar Trivedi, Senior Research Analyst at Reliance Securities, indicated that gold is on track for a substantial weekly advance, part of a nine-week rally. Concerns over economic instability have led investors to seek safety in precious metals. The yellow metal has soared more than 65% this year, bolstered by central bank purchases and ETF inflows.
The recent remarks by Federal Reserve Chair Jerome Powell about a weakening labor market are influencing investor sentiment. These factors have led to expectations of a 25 basis point rate cut later this month, with another anticipated in December.
Overall, the surge in gold and silver prices reflects a combination of domestic and international economic factors. Investors remain cautious as they navigate a landscape of uncertainty.
