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On the MCX, the yellow metal futures for December delivery extended its gains for the fourth straight session by rallying Rs 1,217 or 1.04 per cent to hit a record high of Rs 1,17,561 per 10 grams.Gold prices on Tuesday soared Rs 1,217 to hit fresh record high of Rs 1,17,561 per 10 grams in the domestic futures market tracking sharp gains in the overseas market, as investors weighed the risk of a looming US government shutdown.Gold prices surged to unprecedented levels on Tuesday, driven by strong safe-haven demand as fears of a looming US government shutdown rattled global markets. On the Multi Commodity Exchange (MCX), December gold futures hit a record ₹1,17,561 per 10 grams, up ₹1,217 or 1.04% for the session, marking their fourth consecutive day of gains. The February 2026 gold contract jumped ₹1,314 (1.12%) to a lifetime high of ₹1,18,788 per 10 grams.
Silver also scaled new peaks, with December silver futures rising ₹1,101 (0.77%) to ₹1,44,200 per kg, while the March 2026 contract climbed ₹1,127 to ₹1,45,858 per kg.in the international market, bullion extended its rally, with gold futures for December touching $3,895.22 per ounce, the highest on record, while silver advanced to $47.41 per ounce. Analysts noted that gold is on track for its biggest monthly gain in 14 years, having risen more than 11% in September.Market experts attributed the surge to heightened safe-haven flows amid political and economic uncertainty in the US. Talks between President Donald Trump and congressional leaders ended without a funding deal, raising the risk of a government shutdown from Wednesday. The standoff, combined with upcoming tariff measures on US heavy trucks, patented drugs, and other goods, added fuel to investor anxiety.Expectations of further Federal Reserve interest rate cuts and strong inflows into gold exchange-traded funds (ETFs) also supported the rally. Gold ETFs drew $10.5 billion in September, lifting year-to-date inflows to about $50 billion.”Gold and silver are in a strong uptrend as global uncertainties push investors toward safe-haven assets,” said Rahul Kalantri of Mehta Equities. Reliance Securities’ Jigar Trivedi added that a shutdown could delay key US economic reports, further spurring bullion demand.
