Gold and Silver Hit Record Highs

Gold and Silver prices have surged to unprecedented record highs in both domestic and global markets. This rally is primarily driven by a confluence of factors: the ongoing US government shutdown, which has created economic and political uncertainty; growing expectations of further interest rate cuts by the United States — Federal Reserve; and sustained safe-haven demand from investors and global central banks, including the Bank of China. The US government shutdown has delayed the release of crucial economic data, further intensifying market jitters. Analysts from IndusInd Securities and Motilal Oswal Financial Services have highlighted these factors as key drivers. Gold futures for December delivery on the Commodity Exchange Act hit Rs 1,20,900 per 10 grams, while Comex Gold futures breached USD 4,000 per ounce. Silver also saw significant gains, with December futures reaching Rs 1,47,800 per kilogram. Investors are closely monitoring statements from United States — Federal Reserve officials like Jerome Powell and Stephen Miran for future monetary policy signals.