New Delhi, Sep 9 (SocialNews.XYZ) Domestic gold and silver prices surged to record highs on Tuesday, tracking a global rally in precious metals amid weakness in US dollar, as disappointing US labour market data reinforced expectations of aggressive Federal Reserve rate cuts.
The gold prices touched an all-time high, while silver climbed to a 14-year peak in international markets. On the MCX, the yellow metal futures for December delivery appreciated Rs 458 or 0.41 per cent to hit a lifetime high of Rs 1,10,047 per 10 grams.
In India, the price of 24-carat gold per gram was at Rs 10,804 on Tuesday, according to data published by the India Bullion and Jewellers Association (IBJA).
The rally followed US non-farm payrolls rising by just 22,000 in August, far below forecasts of 75,000, with unemployment during the month jumped to 4.3 per cent.
The softer jobs data has strengthened bets of a 75-basis-point rate cut by the Fed this year. Adding further support to the rally, the dollar index slipped to a six-week low and US 10-year Treasury yields declined.
In the US, investors are now awaiting two key inflation reports that could determine what Federal Reserve policymakers will do at their meeting next week.
Further, analysts also linked the ongoing rally to concerns over tariff inflation, and increased industrial demand for silver from EVs and solar. Market forecasts indicate a 91 per cent likelihood of a 25-basis-point rate cut at the upcoming US Federal Reserve meeting on September 17.
On the technical front, gold has support at Rs 1,08,040–1,07,640 zone and resistance at Rs 1,08,950–1,09,450 zone, while silver has support at Rs 1,24,750–1,23,950 zone and resistance at Rs 1,26,350–1,27,150 zone, said Rahul Kalantri, VP Commodities, Mehta Equities Ltd.
India’s gold exchange-traded funds (ETFs) saw net inflows of $233 million in August 2025, marking a 67 per cent jump from the $139 million reported in July, as per World Gold Council data.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz