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Informist, Monday, Sept. 22, 2025

 

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--MCX Oct gold contract hits new record high of INR 111,166 per 10 gm
--MCX Dec gold contract hits new record high of INR 112,277 per 10 gm
--MCX Dec silver contract hits new record high of INR 132,665 per kg
--COMEX Dec gold contract hits new record high of $3,752.3 per ounce
--MCX Dec gold contract hits new record high of INR 111,764 per 10 gm
--MCX Dec silver contract hits new record high of INR 132,424 per kg

 

MUMBAI – Futures contracts of silver and gold on the Multi Commodity Exchange of India rose to a new all-time high Monday tracking those on COMEX, supported by hope on more interest rate cuts by the US Federal Reserve later this year. Silver prices on the COMEX are currently trading at a 14-year high, while those of gold are around the new record high. 

 

At 1233 IST, the most-active December silver contract was up 2.1% from the previous close at INR 132,540 per kilogram, after touching an all-time high of INR 132,665 per kg. On the COMEX, the most-active December gold contract was up 2.6% at $44.06 per ounce.

 

"The rally was driven by expectations of additional US Federal Reserve rate cuts after last week's widely anticipated 25 basis point reduction, the first since December," Kedia Advisory said in a note. The CME's Fedwatch tool shows 91.9% traders pricing in a 25-basis-point cut by the Fed in the October meeting.  

 

Traders expect a 50-basis-point cut by the US Federal Reserve by the end of 2025. "Strong fundamentals, including tight supply, supported the upward trend, while robust industrial demand from the solar, electric vehicle, and electronics sectors added further momentum to silver prices," Kedia Advisory said. 

 

Along with the persisting hopes about rate cut by the US Fed, weak domestic currency rupee is also supporting domestic prices of bullion, Kedia Advisory said. Although rupee is steady currently, it is near the historical high of 88.45 against dollar.

 

At 1233 IST, the most-active October gold contract on the MCX was 1.1% higher at INR 111,092 per 10 grams, after touching an all-time high of INR 111,166 per 10 grams. The December contract also rose to a record high of INR 112,277 per 10 gm earlier Monday. On COMEX, the most-active December gold contract was up 1% at $3,742 per ounce, after touching a record high of $3,752.3 per ounce. 

 

Outlook for the rest of the session:

--MCX Oct gold seen at INR 110,200–INR 112,000 per 10 grams

--COMEX Dec gold seen at $3,710.0–$3,780.0 an ounce

--MCX Dec silver seen at INR 131,000-INR 134,000 per kg

--COMEX Dec silver seen at $43.50-$44.50 an ounce

End

 

US$1 = INR 88.17

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Reported by J. Navya Sruthi

Edited by Akul Nishant Akhoury

 

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