Overview
- Delhi spot gold jumped ₹4,000 to an all‑time high of about ₹1,37,600 per 10g, while silver was quoted near ₹1,99,500, according to the All India Sarafa Association.
- On MCX, gold futures set a fresh peak near ₹1,35,496 per 10g and silver recently spiked intraday to a record around ₹2,01,615 per kg before easing on profit‑taking.
- Internationally, spot gold hovered around $4,305–$4,350 an ounce and silver near $64, leaving both metals up roughly 65% and more than 100% this year, respectively.
- The surge is linked to the Fed’s 25 bp rate cut and planned $40 billion in monthly T‑bill purchases, a softer dollar and yields, sustained central‑bank buying, and tight silver supply with strong industrial demand.
- Analysts flag near‑term volatility but keep a bullish bias, as India’s Finance Ministry cites safe‑haven demand from geopolitical and growth risks and regulators consider allowing pension funds to buy gold and silver ETFs.