Gold Price Today: MCX Gold Futures Jump to ₹1.10 Lakh, Global Headwinds Push Yellow Metal Higher
- 9th September 2025
- 05:00:00 PM
- 3 min read
Summary
Gold prices surged to fresh all-time highs on MCX, crossing ₹1.10 lakh per 10 grams, as global economic risks, weak US jobs data, and Fed rate cut expectations drove investors to safe-haven assets. Comex gold also touched $3,694 per ounce. Festive season demand in India, coupled with central bank buying worldwide, has added further momentum to the rally.
Mumbai | September 9 – Gold prices in India scaled new record levels on September 9, extending their bullish streak as global economic uncertainty pushed investors into safe-haven assets. On the Multi Commodity Exchange (MCX), December gold futures surged ₹723 or 0.65% to hit ₹1,10,312 per 10 grams, while October contracts climbed to an unprecedented ₹1,09,500 per 10 grams.
The yellow metal has gained close to 4% in just a week and is now up nearly 38% in 2025, signalling strong investor appetite. In international trade, Comex gold futures for December rose sharply to $3,694.75 per ounce, marking yet another lifetime high.
Key Triggers Behind Gold’s Record Rally
Fed policy uncertainty
Growing conviction that the US Federal Reserve will cut interest rates at its September 16–17 FOMC meeting is supporting gold. With US bond yields and the dollar index slipping, non-yielding assets like bullion become more attractive.
US jobs data disappoints
The US labour market weakened further in August with unemployment climbing to 4.3%, the highest in four years, and payrolls adding only 22,000 jobs. The soft data reinforced expectations of policy easing, fuelling demand for safe-haven gold.
Tariff tensions and trade risks
Tariff uncertainty remains a key overhang. The recent 50% tariff move by the US on Indian exports and ongoing court challenges have rattled global trade sentiment, adding another leg of support for bullion.
Dollar and yields decline
The US dollar index dropped to a seven-week low, while the 10-year Treasury yield slipped to its lowest in five months. This has made gold more attractive to global investors holding other currencies.
Geopolitical concerns
Fresh sanctions threats on Russia, following renewed conflict in Ukraine, have heightened risk aversion across markets. Gold, being a traditional safe-haven, has directly benefited from this flight to safety.
Central bank demand
Central banks remain consistent buyers of gold. Even though net additions slowed to 10 tons in July, the World Gold Council notes that countries continue to diversify away from the dollar, supporting long-term demand for bullion.
Seasonal demand in India
In India, festive season buying has amplified gold demand, with cultural and wedding-related purchases adding to the rally. Historically, domestic demand peaks during these months, providing further upward pressure on prices.
What It Means for Investors
Analysts highlight that the surge in MCX gold futures and Comex gold prices reflects a mix of monetary easing bets, geopolitical risks, and central bank buying. With Indian demand strengthening ahead of festivals, experts expect prices to stay elevated in the near term, though investors should brace for volatility.
PL Capital
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
