MCX December gold futures climbed by over ₹1,800, or 1.4 per cent, reaching an all-time high of ₹1,32,770 per 10 grams.
New Delhi: The price of gold soared to a record high on the Multi Commodity Exchange (MCX) on Friday, October 17, driven by positive global cues ahead of Diwali. A weaker US dollar and strong spot demand further boosted gold prices.
MCX December gold futures climbed by over ₹1,800 for a gram, or 1.4 per cent, reaching an all-time high of ₹1,32,770 per 10 grams.
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Silver futures dipped slightly on the MCX, with prices dropping to ₹1,85,000 per kilogram (₹ 185/gram).
Internationally, gold is on track for its strongest weekly gain since 2008, supported by rising US-China trade tensions and growing expectations of further US Federal Reserve interest rate cuts — factors that have propelled a boom in the precious metal’s price.
A weaker dollar has played a key role in this surge. The dollar index slipped by 0.20 per cent, making gold more affordable in other currencies and potentially driving up demand.
With prices surpassing ₹1.3 lakh for 10 grams of 24-carat gold ahead of the Diwali 2025, shoppers are facing what could be the costliest festive season in recent years.
Despite the sharp rise, many jewellers remain optimistic. Increased household liquidity—bolstered by GST reforms, pay commission arrears, and easing inflation—has encouraged discretionary spending. Jewellery associations report that buyers are still visiting stores, though with more careful and considered planning.
Published: 17 Oct 2025, 10:23 am IST
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