Gold prices skyrocketed to unprecedented levels in Indian and international markets on Wednesday, setting new all-time highs. The rally was fueled by twin factors: growing anticipation of monetary policy easing by the US Federal Reserve and escalating geopolitical concerns, which together amplified demand for the traditional safe-haven asset.
Domestic and Global Markets Scale New Peaks
In futures trading on the Multi Commodity Exchange (MCX), gold prices climbed to a historic high of Rs 1,38,676 per 10 grams. Specifically, the February delivery gold futures contract gained Rs 791, or 0.57%, marking the metal's third straight session of advances.
The bullish trend was mirrored globally. On the Comex, gold futures rose for the fourth consecutive session, adding $49.4 or 1.10% to touch a fresh peak of $4,555.1 per ounce.
Expert Insight: Why is Gold Shining?
Jigar Trivedi, Senior Research Analyst at Reliance Securities, explained the drivers behind this record-breaking rally. "Gold surged past $4,500 per ounce to a fresh record, driven by expectations of further Federal Reserve easing and rising geopolitical tensions," Trivedi told PTI.
He elaborated that investors are still factoring in two potential interest rate cuts in 2026 as inflation shows signs of cooling and employment conditions soften, despite policymakers being divided. "Meanwhile, tensions between the US and Venezuela have been rising, which has lifted safe-haven demand and increased geopolitical risks across commodity markets," Trivedi added.
City-Wise Gold Rates in India (22K, 24K, 18K)
Following the bullish trend in futures, physical gold prices also moved higher across major Indian cities. Here is a snapshot of the rates for different purities:
Delhi: 22K gold was at Rs 12,750/g (up Rs 35), 24K at Rs 13,908/g (up Rs 38), and 18K at Rs 10,435/g (up Rs 29).
Mumbai: 22K gold traded at Rs 12,735/g (up Rs 35), 24K at Rs 13,893/g (up Rs 38), and 18K at Rs 10,420/g (up Rs 29).
Bengaluru: Rates were at Rs 12,735/g for 22K (up Rs 35), Rs 13,893/g for 24K (up Rs 38), and Rs 10,420/g for 18K (up Rs 29).
Hyderabad: 22K gold was priced at Rs 12,735/g (up Rs 35), 24K at Rs 13,893/g (up Rs 38), and 18K at Rs 10,420/g (up Rs 29).
Chennai: Prices saw 22K gold at Rs 12,800/g (up Rs 30), 24K at Rs 13,964/g (up Rs 33), and 18K at Rs 10,675/g (up Rs 25).
Ahmedabad: 22K gold stood at Rs 12,740/g (up Rs 35), 24K at Rs 13,898/g (up Rs 38), and 18K at Rs 10,425/g (up Rs 29).
Jaipur: Rates were Rs 12,750/g for 22K (up Rs 35), Rs 13,908/g for 24K (up Rs 38), and Rs 10,435/g for 18K (up Rs 29).
Kanpur: 22K gold was at Rs 12,750/g (up Rs 35), 24K at Rs 13,908/g (up Rs 38), and 18K at Rs 10,435/g (up Rs 29).
Kolkata: Prices moved to Rs 12,735/g for 22K (up Rs 35), Rs 13,893/g for 24K (up Rs 38), and Rs 10,420/g for 18K (up Rs 29).
The sustained upward momentum indicates that gold remains a preferred asset for investors navigating a landscape of economic uncertainty and global tensions. Market participants will closely watch upcoming US economic data and Federal Reserve commentary for further direction.
