Gold prices skyrocketed by ₹2,700 to scale a fresh peak of ₹1,23,300 per 10 g in the national capital on Monday (October 6, 2025), lifted by safe-haven buying in the overseas markets.

According to the All India Sarafa Association, the yellow metal of 99.9% purity had closed at ₹1,20,600 per 10 g on Friday (October 3, 2025).

In the local bullion market, gold of 99.5% purity jumped by ₹2,700 to hit a record high of ₹1,22,700 per 10 g (inclusive of all taxes) on Monday (October 6, 2025). It had settled at ₹1,20,000 per 10 g in the previous market session.

“Gold reached a new record high on Monday (October 6, 2025) as investors still prefer bullion despite this record high price. They are anticipating further gains in bullion backed by favourable fundamentals and strong bullish momentum,” Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said.

Mr. Gandhi noted that concerns about a prolonged U.S. government shutdown potentially impacting economic performance are supporting the demand for safe-haven metal.

Silver prices also witnessed robust gains. The white metal bounced by ₹7,400 to hit a new peak of ₹1,57,400 per kg (inclusive of all taxes). It had ended at ₹1,50,000 per kg on Friday (October 3, 2025), as per the association.

Silver prices have soared by ₹67,700 or 75.47% in the current calendar year, rallying from ₹89,700 per kg on December 31, 2024.

In the international markets, spot gold rose nearly 2% to touch an all-time high of $3,949.58 per ounce, while silver went up over 1% to hit a high of $48.75 per ounce.

“Spot gold extended gains and surged above $3,940 per ounce for the first time ever as the U.S. government shutdown enters its sixth day, following the Senate’s failure to pass funding bills on Friday (October 3, 2025),” Kaynat Chainwala, AVP Commodity Research at Kotak Securities, said.

Meanwhile, gold and silver futures also hit their fresh peaks in the domestic futures market on Monday (October 6, 2025).

The yellow metal futures for December delivery jumped by ₹1,962 or 1.66% to hit a record high of ₹1,20,075 per 10 g on the Multi Commodity Exchange (MCX).

The February 2026 contract for gold futures appreciated by ₹2,047 or 1.71% to touch a fresh peak of ₹1,21,380 per 10 g.

“Gold traded positively with sharp gains to hit a record ₹1,20,000 per 10 g-mark, as Comex gold extended its rally above $3,900 per ounce. The ongoing festive demand and global sentiment-driven rally continue to support prices, while rupee weakness adds domestic strength,” Jateen Trivedi, V-P Research Analyst – Commodity and Currency at LKP Securities, said.

Silver, too, witnessed gains on the MCX. The white metal futures for December delivery bounced ₹2,233 or 1.53% to record ₹1,47,977 per kg.

The March 2026 contract for silver futures jumped ₹2,337 or 1.59% to hit a lifetime high of ₹1,49,605 per kg on the commodities bourse.

Globally, gold futures for December delivery climbed to hit a record high of $3,973.60 per ounce. Silver futures for December delivery also hit a high of $48.58 per ounce.

“The closure (of the U.S. government) has delayed the release of key economic data, including September’s jobs report, creating uncertainty over the health of the labour market data and other critical indicators,” Chintan Mehta, Chief Executive Officer of Abans Financial Services, said.

Mr. Mehta added that the precious metal prices have extended their historic rally in recent months, driven by ongoing concerns over the U.S. economy and disappointing employment data.

Renisha Chainani, Head of Research at Augmont, said gold prices have surged 50% this year, while silver has surged 65% this year in the international markets.

“2025 has been the year of uncertainties – it started with political uncertainty, then tariff uncertainty, geopolitical uncertainty, rate cut uncertainty and now U.S. shutdown uncertainty. All these factors have supported bullion prices to rise phenomenally this year on safe-haven demand,” Ms. Chainani said.

She added that a weaker dollar, robust central bank purchases, rising demand for gold-backed exchange-traded funds, and growing interest from retail investors directly boosted demand for gold as a hedge.

This week, investors will closely monitor certain market indicators such as Federal Open Market Committee meeting minutes and Fed Reserve chair Jerome Powell’s speech on Thursday (October 9, 2025), Manav Modi, Analyst – Precious Metal Research at Motilal Oswal Financial Services, said.