Gold, silver futures scale fresh record highs on Fed rate-cut hopes and weak dollar

Gold and silver prices surged to fresh lifetime highs in both domestic and global markets on Monday, supported by a weakening US dollar and rising expectations of interest rate cuts by the Federal Reserve.

On the Multi Commodity Exchange (MCX), gold futures for February delivery jumped Rs 1,628, or 1.21 per cent, to hit a new record high of Rs 1,35,824 per 10 grams. The yellow metal had already gained Rs 574, or 0.43 per cent, over the previous week, reflecting sustained investor interest amid global macroeconomic uncertainty.

Silver futures also witnessed sharp buying momentum on the MCX. The March 2026 contract surged Rs 6,144, or 2.95 per cent, to touch an all-time high of Rs 2,14,583 per kilogram. The white metal has recorded strong gains of Rs 15,588, or 8.08 per cent, over the past week, driven by safe-haven demand and expectations of easier global monetary policy.

Market participants remain focused on US inflation trends and central bank signals, which continue to influence precious metal prices.