NextFin news, On Friday, October 10, 2025, gold and silver prices rose sharply in India, reflecting strong global market trends and investor sentiment. The price of 24-karat gold crossed Rs 12,400 per gram, reaching Rs 1,24,160 for 10 grams, while Multi Commodity Exchange (MCX) gold futures touched a record high of Rs 1,22,165 per 10 grams.
The increase in precious metal prices was supported by a weaker US dollar, which slipped over 0.20 percent during the trading session, making gold cheaper for buyers holding other currencies. Since gold is priced in US dollars, any decline in the dollar's value tends to boost global demand.
Silver prices also gained on the MCX, supported by a global rally and similar factors influencing gold. December silver futures traded nearly flat but remained firm amid steady spot market demand.
Market experts attributed the upward trend to global economic and political uncertainties, particularly in the United States, and expectations of interest rate cuts by the US Federal Reserve. Traders are pricing in a 95 percent probability of a 25-basis-point rate cut in October and an 82 percent chance of another cut in December.
US gold futures were poised to post gains for the eighth consecutive week, driven by hopes of Fed rate cuts, political instability in Japan and France, and the ongoing US government shutdown. However, profit-taking and dollar strength occasionally offset safe-haven demand.
The gold price surge coincides with the festive season in India, which traditionally sees increased demand for the precious metal. Prices vary across cities, with Chennai recording the highest 24K gold price at Rs 12,465 per gram, followed by Delhi at Rs 12,431 per gram, and Mumbai and Kolkata at Rs 12,416 per gram.
In summary, the rise in gold and silver prices on October 10, 2025, in India was driven by a combination of a weaker US dollar, strong global demand, and investor optimism about potential US Federal Reserve interest rate cuts, alongside seasonal buying trends.
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