Gold and silver prices surged to historic levels on Tuesday, driven by global market trends, a weaker dollar, and expectations of aggressive Federal Reserve rate cuts.
Gold futures on the Multi-Commodity Exchange (MCX) for December delivery jumped ₹458, or 0.41%, to an unprecedented ₹1,10,047 per 10 grams. In retail markets, 24-carat gold was priced at ₹10,804 per gram, according to India Bullion and Jewellers Association (IBJA) data. Silver climbed to its highest point in 14 years.
The rally followed weaker-than-expected US labour market data, with non-farm payrolls rising by only 22,000 in August against forecasts of 75,000. Unemployment also edged up to 4.3%. This strengthened bets of a 75-basis-point Fed rate cut in 2025, while the dollar index slipped to a six-week low and US 10-year Treasury yields declined.
Analysts noted that silver demand is further boosted by industrial use in electric vehicles and solar panels. Market indicators show a 91% probability of a 25-basis-point cut at the Fed&rsquo;s September 17 meeting.
India&rsquo;s gold exchange-traded funds (ETFs) also saw strong investor interest, recording $233 million in inflows in August, a 67% rise from July, as per the World Gold Council.
[Except for the headline, this article has not been edited by the Benefit News editorial team and is published directly from the IANS news feed.]
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Weak US jobs data, Fed cut bets push gold to record highs, silver to 14-year peak

Gold Hits Record, Silver at 14-Year High

Weak US jobs data, Fed cut bets push gold to record highs, silver to 14-year peak

September 9, 2025 | 17:15 IST