MCX gold hits new record high on firm safe-haven demand, rate-cut hopes
This story was originally published at 10:13 IST on 13 October 2025
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--MCX December gold contract hits new record high of INR 123,680 per 10 gm
MUMBAI – Futures contracts of gold hit a new record high on the Multi Commodity Exchange of India Monday due to higher safe-haven demand amid the ongoing US government shutdown and expectations of a rate cut by the US Federal Reserve later this month. Weak dollar index is also supporting prices of gold in international markets.
"With the US government shutdown extending into its third week and political instability in France following the resignation of PM Lecornu, safe-haven demand for gold strengthened," Kedia Stocks and Commodities Research Pvt. Ltd. said in a report. For further cues, the market will monitor developments between the US and China.
At 0959 IST, the most active December contract of gold on the MCX was 1.6% higher at INR 123,278 per 10 grams after touching a record high of INR 123,680 per 10 grams. The most active December gold contract on COMEX was 1.8% higher at $4,072.5 per ounce.
Meanwhile, 95.7% of traders are pricing in a 25-basis-point rate cut this month, and 4.3% anticipate the rates to remain unchanged at 4.00-4.25%, according to the CME FedWatch tool. Gold prices typically rise during times of economic and geopolitical uncertainties and low interest rate environments. End
US$1 = INR 88.72
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by J. Navya Sruthi
Edited by Deepshikha Bhardwaj
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