Futures scale new peaks amid trade jitters

Gold and silver prices scaled fresh record highs in the domestic futures trade, mirroring lifetime gains in the international markets as renewed US-China trade tensions and prospects of rate cuts by the US Federal Reserve bolstered safe-haven demand.

On the Multi Commodity Exchange (MCX), gold futures for December delivery climbed Rs 2,301, or 1.84 per cent, to hit a new peak of Rs 1,26,930 per 10 grams. The February 2026 contract for the yellow metal also surged Rs 2,450, or 1.94 per cent, to touch a record of Rs 1,28,220 per 10 grams. In tandem with gold, silver prices soared sharply on the MCX.

The white metal futures for December delivery bounced by Rs 8,055, or 5.2 per cent, to a record of Rs 1,62,700 per kilogram. The March 2026 contract for silver futures zoomed by Rs 9,257, or 6 per cent, to hit a new peak of Rs 1,63,549 per kg on the commodities bourse.