US-China tensions drive futures to new peaks

Gold prices on Monday surged by Rs 2,613 to hit a fresh peak of Rs 1,23,977 per 10 grams in the domestic futures trade, buoyed by renewed US-China trade tensions, a prolonged US government shutdown, and growing global economic uncertainty that spurred safe-haven demand.

Gold futures for December delivery jumped by Rs 2,613, or 2.15 per cent, to hit a record of Rs 1,23,977 per 10 grams.

The February 2026 contract for the yellow metal also appreciated Rs 2,296, or 1.87 per cent, to trade near its lifetime peak at Rs 1,24,999 per 10 grams.

Silver futures also witnessed strong traction on Monday. The white metal for December delivery surged by Rs 5,856, or 4 per cent, to Rs 1,52,322 per kilogram on the MCX, near its lifetime high of Rs 1,53,388 per kg hit on Thursday.