Gold extended this year’s gains to 45% or Rs 34,300 per 10 grams while in September, its rally was to the tune of 7% or Rs 7,366.
Around 2 pm today, the October gold futures on the MCX were trading at Rs 1,11,127, rising by Rs 1,280 or 1.2%. The prices of gold were trading at $3,748.20 per troy ounce, gaining by $42.40 or over 1% on the COMEX around this time.
MCX silver contracts too hit their fresh lifetime high of Rs 1,32,665 per kg, rising by 2.2% or Rs 2,827. Silver’s shine has outgrown gold so far this year. The domestic price of white metal has risen 52% in 2025, getting dearer by Rs 45,002 per kg. In September so far, the rally has been 10% or Rs 11,900.
Both gold and silver have been the best performing asset class in 2025, significantly outperforming equities.
Not just the festival fervour, gold has got a fresh impetus on Fed’s 25 bps rate cut and Trump’s latest H1-B visa proclamation to introduce a $100,000 fee for new applications has stirred the hornet’s nest, bringing a cloud of uncertainty for global IT companies, especially India. “The bullion is expected to remain supported by firm festive demand in Asia, while ETFs and central banks continue to remain net buyers. Safe-haven buying remains mixed at current high prices,” Pranav Mer, Vice President, EBG – Commodity & Currency Research at JM Financial Services said, commenting on the current trends and bullion’s outlook.Anuj Gupta, Director at Ya Wealth Global Research sees further upside to the rally during the festive season and recommends buy on both gold and silver.
Gold and silver trading strategy:
Buy MCX gold at Rs 1,10,000 with a stop loss of Rs 1,08,000 and target of Rs 1,13,000-1,15,000
Buy MCX silver at Rs 1,30,000 with a stop loss of Rs 1,27,000 and target of Rs 1,35,000-1,37,000
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