As Dhanteras and Diwali are approaching, gold and silver are again making new records every day. On Tuesday, October 14, gold and silver prices reached new peaks in domestic futures trade. One reason for this was the boom in international markets. After America’s announcement of 100 percent additional tariff on China from November 1, new tension has arisen regarding trade between the two countries. China has decided to impose export controls on rare earth elements from November 1. After this announcement, America announced additional tariffs.
At the same time, the US central bank Federal Reserve is still expected to cut interest rates. These factors have increased the demand for gold as a safe asset. The US government shutdown is in its 13th day. There is also uncertainty because it is beginning to weigh heavily on the American economy.
How much did gold cost on MCX?
On the Multi Commodity Exchange (MCX) in the country, the futures price of gold for delivery in December rose by Rs 2,301 or 1.84 percent to reach a new peak of Rs 1,26,930 per 10 grams. The price of gold contract for delivery in February 2026 also rose by Rs 2,450 or 1.94 percent to reach a record high of Rs 1,28,220 per 10 grams.
According to news agency PTI, Manav Modi, Analyst (Precious Metals), Motilal Oswal Financial Services, says, “Gold prices reached a record high due to increased uncertainty due to new tensions over trade between the US and China. The demand for safe investments has increased. Gold also got support from the possibility of interest rate cut by the Federal Reserve. Silver has also created a new record high.”
where is the price of silver
There was a sharp rise in silver prices on MCX on Tuesday. Silver futures for delivery in December rose by Rs 8,055, or 5.2 per cent, to an all-time high of Rs 1,62,700 per kg. The price of the contract for delivery in March 2026 rose by Rs 9,257, or 6 percent, to a new peak of Rs 1,63,549 per kg.
Gold is near 4200 dollars in international market
In the international market too, both gold and silver futures prices reached record high on Tuesday. Gold for December delivery on Comex jumped more than 1 percent to reach a record high of $ 4,190.67 an ounce. Silver futures for December delivery rose 4 percent to a record high of $52.49 an ounce.
Modi says, “Gold prices have increased by 60 percent so far this year and crossed the important level of $ 4,100 for the first time on Monday. The rise has been driven by geopolitical tensions, economic uncertainties, expectations of interest rate cuts, good buying by central banks and good investment in exchange traded funds (ETFs).” Further said, “Silver is also continuously rising and has crossed the record level of $ 52 an ounce on Comex. Due to huge reduction in supply in the global market, the premium has been affected and the prices have been supported.”
According to Jigar Trivedi, Senior Research Analyst at Reliance Securities, “Investors are now waiting for the comments of Federal Reserve Chairman Jerome Powell at the annual meeting of the National Association for Business Economics (NABE). In this they will look for an indication of the direction of the US central bank on cutting interest rates.”