Gold Hits Fresh Record High On MCX As Sensex, Nifty Also Rebound

Gold prices on the Multi Commodity Exchange touched a fresh record high on Thursday, with the metal climbing to an intraday peak of roughly ₹1,58,750 per 10 grams before easing slightly to settle around ₹1,57,655, extending a rally that has pushed domestic bullion prices to their highest levels on record.

The Numbers

Spot 24-karat gold in the domestic market was quoted near ₹1,57,970 per 10 grams, a fresh high by market trackers' reckoning, while silver held firm around ₹2,38,360 per kilogram. On MCX specifically, silver futures rose about 0.22 percent to trade near ₹2,37,300 per kilogram. Internationally, Comex gold pushed as high as $4,526.30 an ounce during the session, even after slipping back modestly from that peak, while Comex silver added a little over 1 percent. The domestic-international gap reflects the usual mix of import duty, GST and currency effects that push Indian gold prices ahead of raw international quotes.

What's Driving The Rally

Bullion's latest leg higher is being attributed to a combination of factors converging at once: continued safe-haven demand tied to unresolved US-Iran tensions and the standoff over the Strait of Hormuz, alongside speculation that the US Federal Reserve could be closer to cutting interest rates given recent soft US economic data. Lower rates typically make non-yielding assets like gold more attractive relative to bonds, and traders have also pointed to reports that Washington is weighing buybacks of longer-term Treasury securities to ease borrowing costs, a move that has broadly supported risk appetite while simultaneously feeding gold's safe-haven bid. Geopolitical risk premiums tied to North Korea's missile activity and the fragile Gaza ceasefire have added further support.

Equities Also Rebound

Away from bullion, India's benchmark equity indices snapped a four-day losing streak on the same day. The BSE Sensex settled 628.04 points, or 0.82 percent, higher at 77,537.72, while the NSE Nifty 50 closed at 24,231.85, up 153.53 points or 0.64 percent. The rebound was driven largely by gains in IT and financial stocks, alongside improved global sentiment after Wall Street's own advance overnight. Foreign institutional investors had been net buyers in the sessions leading up to Thursday, while domestic institutional investors continued their steady pace of purchases, both dynamics that had helped cushion the market during its recent slide.

What It Means For Investors

The simultaneous rally in gold and equities is somewhat unusual, since the two asset classes often move in opposite directions when investors are choosing between risk-on and safe-haven positioning. Analysts suggest the current mix, easing rate-cut expectations lifting stocks while geopolitical risk keeps a bid under gold, explains why both markets found support on the same day. For retail investors in India, where gold remains a culturally significant asset alongside its investment role, the fresh high adds to an already strong year for bullion returns, even as some market watchers caution that prices at these levels leave less room for further sharp upside without a corresponding shift in the underlying risk drivers.

This article is an original editorial summary based on publicly reported information. It has been independently written for publication and does not reproduce content from any single source.