Gold and Silver Touch New Record Highs on MCX; Festive Demand, Weak Dollar, and Global Market Uncertainty Support the Price Surge

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On Wednesday, both gold and silver prices hit new record highs on the Multi Commodity Exchange (MCX). Gold price today crossed Rs. 1,22,000 for the first time and reached Rs. 1,22,780 per 10 grams. Silver rate also touched Rs. 1,48,724 per kilogram.

The surge in prices comes at a time when global markets are volatile. The US government shutdown, a weak dollar, and hopes of a Fed rate cut have pushed investors towards gold and silver. These metals are seen as safe places to invest during uncertain times.

At around 1 pm, MCX gold for December delivery was up by 1.37% at Rs. 1,22,776, while silver for December was higher by 1.82% at Rs. 1,48,444. In the international market, gold prices crossed $4,000 an ounce for the first time, touching $4,037.

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Strong Demand and Global Factors Drive the Rally

In India, gold prices have already gone up more than 55% this year. Strong buying by central banks, heavy inflows into gold exchange-traded funds (ETFs), and inflation worries have added more support. The ongoing festive and wedding season has also increased physical demand in the Indian market.

Experts say the rally may continue if the US Federal Reserve cuts rates later this year. Market analyst Anuj Gupta believes the gold price today may reach Rs. 1,25,000 per 10 grams by year-end. Renisha Chainani from Augmont Research expects gold to move towards Rs. 1,28,000 and silver rate to Rs. 1,60,000 if the dollar stays weak.

However, some analysts suggest being careful. Manoj Kumar Jain from Prithvifinmart says traders can book small profits now and wait for a price dip before buying again. He has also cautioned against engaging in short-selling as the general trend is bullish.

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On the other hand, gold is still one of the most attractive and safe investments for those who hold it for the long term. Going with this perspective, experts are of the view that investors should buy gold little by little during price corrections via gold ETFs or digital gold. By doing so, they can take the slow and steady route to wealth enhancement by minimizing risk.

With the gold price today touching record highs, India’s love for the yellow metal remains as strong as ever. Whether it’s for safety, savings, or celebration, gold and silver continue to shine bright in 2025.