Gold, silver hit fresh highs on Fed easing, Navratri boost; yellow metal up Rs 1,300/10 gm, silver jumps Rs 2,800/kg

Gold bulls were in buoyant mood on Monday with domestic yellow metal prices surging 1.2% or by 1,343 per 10 gram to new lifetime high of Rs 1,11,190. The beginning of Navratris, US Federal Reserve’s monetary easing and US President Donald Trump’s H1-B visa row collectively lifted sentiments for bullion.

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

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)