Gold Price Today: Yellow metal hits record Rs 1.28 lakh amid global tensions, weak dollar. Will Diwali see a Rs 1.3 lakh print?
Silver too rallied in tandem, with December 2025 futures surging to a record high of Rs 1,64,150 per kg. Prices were last seen at Rs 1,63,756, up Rs 1,550 or 0.96%, as the metal gained on renewed buying interest and broader strength in bullion.
In the international market, Gold hit a record high on Thursday as investors sought refuge in the metal amid persistent geopolitical and economic uncertainties, with expectations of U.S. rate cuts and a weaker dollar adding support.
Spot gold rose 0.4% to $4,224.79 per ounce, as of 0033 GMT, after hitting a record high of $4225.69. U.S. gold futures for December delivery gained 0.9% to $4,239.70. Gold and silver extended their gains and hit new record highs amid profit-taking in the dollar index and possible Fed rate cuts.
On Wednesday, gold and silver settled on a positive note in the domestic and international markets. Gold December futures contract settled at Rs 1,27,210 per 10 grams with a gain of 0.76% and silver December futures contract settled at Rs 1,62,206 per kilogram with a gain of 1.69%.
Gold and silver extended their gains and hit fresh lifetime highs in the international and domestic markets. Gold prices closed above $4,200 per troy ounce and silver prices closed above $51 per troy ounce for the first time in the international markets and continuing its bullish momentum.The dollar index fell due to the ongoing US-China trade conflicts and increased possibilities of the Fed rate cuts in the October policy meetings. Safe-haven buying and robust investor demand are also fueling gold and silver prices.“Gold prices could test $4,890 and silver prices could test $65 in the longer term,” said Manoj Kumar Jain of Prithvifinmart Commodity Research.
Jain added that he expects gold and silver prices to remain volatile this week amid volatility in the dollar index, volatility in the global financial markets and the US-China trade conflicts, and gold is expected to trade in the range of $3,980-4,280 per troy ounce and silver is expected to trade in the range of $48.50-53.50 per troy ounce this week.
Today, the US Dollar Index, DXY, was hovering near the 98.52 mark, falling 0.28 or 0.28%.
How to trade gold?
Manoj Kumar Jain suggested the following ranges for gold and silver on MCX:
- Gold has support at Rs 1,26,000-1,24,400 and resistance at Rs 1,28,500-1,30,000
- Silver has support at Rs 1,60,600-1,59,000 and resistance at Rs 1,64,000-1,66,500
Jain suggests buying gold between Rs 1,27,000-1,25,500 with a stop loss of Rs 1,24,000 for a target of Rs 1,28,500-1,30,000 and also suggests buying silver between Rs 1,62,000-1,59,500 with a stop loss of Rs 1,57,700 for a target of Rs 1,64,000-1,66,500.
Gold rates in physical markets
Gold Price today in Delhi
Standard gold (22 carat) prices in Delhi stand at Rs 96,432/8 grams while pure gold (24 carat) prices stand at Rs 1,03,712/8 grams.
Gold Price today in Mumbai
Standard gold (22 carat) prices in Mumbai stand at Rs 95,712/8 grams while pure gold (24 carat) prices stand at Rs 1,02,928/8 grams.
Gold Price today in Chennai
Standard gold (22 carat) prices in Chennai stand at Rs 94,800/8 grams while pure gold (24 carat) prices stand at Rs 1,02,048/8 grams.
Gold Price today in Hyderabad
Standard gold (22 carat) prices in Hyderabad stand at Rs 95,000/8 grams while pure gold (24 carat) prices stand at Rs 1,02,232/8 grams.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)