Gold Prices Hit Record High: ₹1.28 Lakh for 10 Grams in India, Cross $4,250 Globally

Gold, the most trusted metal for Indians, has touched a new record. On Thursday, October 16, 2025, gold prices in India jumped by ₹1,185 to reach an all time high of ₹1,28,395 per 10 grams in futures trading. At the same time, in the international market, gold went above $4,250 per ounce for the first time in history.

This sharp rise is mainly due to expectations that the U.S. Federal Reserve may cut interest rates soon and also because of global political tensions. Investors around the world are turning to gold as a safe option in these uncertain times.

Gold Futures in India at New Highs

On the Multi Commodity Exchange (MCX), gold for December delivery rose by nearly 1% to ₹1,28,395 per 10 grams. The February 2026 contract also climbed sharply to ₹1,29,380 per 10 grams. This is the fifth day in a row that gold prices have gone up.

Experts say the Indian market is moving in line with the international rally. With global prices rising and investors expecting more gains, local gold futures are hitting new records.

Gold Crosses $4,250 in Global Market

The bigger story is gold’s rise in the global market. On the Comex exchange, gold futures touched $4,254.80 per ounce, the highest ever recorded. This rise is linked to the U.S. Federal Reserve’s expected rate cuts.

Fed Chairman Jerome Powell recently indicated that the U.S. job market is slowing down. Investors believe this makes a rate cut almost certain, and this is giving gold prices a strong push. A weak U.S. dollar and heavy buying by central banks are also supporting the rally.

Experts Explain the Rally

Darshan Desai, CEO of Aspect Bullion & Refinery, said, “Gold is rising because the U.S. Federal Reserve is expected to cut interest rates and because of ongoing tensions between Washington and Beijing.”

He added that with debt levels increasing, the dollar losing strength, and central banks buying more gold, the yellow metal is likely to stay strong.

Another expert, Jigar Trivedi of Reliance Securities, said, “Markets have already factored in a 25 basis point rate cut this month, and another one may come in December. This is why gold has crossed $4,250 globally.”

Silver Also Touches Record

Silver is also on a strong run. On MCX, silver for December delivery went up by ₹2,454 to ₹1,64,660 per kilogram, while the March 2026 contract rose to ₹1,64,958 per kg. Globally, silver futures touched $52.86 per ounce, also a record high.

The rally in silver shows that investors are not only betting on gold but also putting money into other precious metals.

Political Tensions Adding to Demand

One of the main reasons for the safe-haven demand is the growing tension between the U.S. and China. The U.S. recently criticised China for tightening export rules on rare earths, warning that it could affect supply chains. At the same time, the U.S. Treasury has suggested new trade restrictions linked to China’s oil imports from Russia.

Such developments make investors nervous, and whenever there is political or trade tension, gold demand rises.

Weak Dollar Makes Gold More Attractive

The U.S. dollar index, which measures the strength of the dollar against other major currencies, fell to 98.63. A weaker dollar makes gold cheaper for people using other currencies, which further boosts its demand.

This combination of a weaker dollar, central bank buying, and investor inflows is keeping gold prices at the top.

What Next for Gold and Silver?

The big question is whether gold will rise even higher. Most analysts believe the answer depends on the Federal Reserve’s decision. If rate cuts happen this month and again in December, gold may continue its upward run.

Silver is also expected to benefit, not only as a safe investment but also because of its use in industries like solar panels and electronics. With rising demand from both investors and industries, silver could also see new highs in 2026.

A Golden Festival Season Ahead

For Indians, gold price is the most talkable topic and who see gold not just as an investment but also as tradition, this price rise comes right before the festive and wedding season. While higher prices may worry some buyers, many still consider gold a must-have during celebrations.

For investors, the current surge is proof that gold remains the best option in times of global uncertainty. For families, it is a reminder that gold continues to hold its special place in Indian culture.

As the world goes through economic and political changes, gold has once again shown why it is called the “safe-haven” metal. With silver shining along, this could be the beginning of a golden chapter in the metals market.