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**Gold and Silver Prices Soar to Record Highs Amid Global Uncertainty**

**Mumbai, September 23** – Gold and silver prices on the Multi Commodity Exchange (MCX) surged to unprecedented highs on Tuesday, fueled by positive global cues, ongoing concerns over US tariffs, and strong festive demand.

MCX Gold October futures spiked nearly 2% to reach a record ₹1,14,179 per 10 grams in morning trade before settling at ₹1,13,986 per 10 grams by 6:15 pm, a 1.56% increase. Similarly, MCX Silver December futures jumped over 1% to a record ₹1,35,557 per kg, ending the day at ₹1,35,255 per kg, up 1.27%.

The precious metals’ rally is attributed to a confluence of factors, including global economic uncertainty, robust retail demand, aggressive central bank buying, expectations of further interest rate cuts by the US Federal Reserve, and a weakening US dollar. Spot gold prices in India have already climbed an impressive 47% this year.

“Persistent central bank purchases, strong ETF inflows, and safe-haven buying have further fuelled the precious metals’ strength,” noted Rahul Kalantri, VP of commodities at Mehta Equities.

A softer dollar index, dropping to 97.20, has also made bullion more attractive to buyers in other currencies. Market analysts anticipate further easing of monetary policy by the US Federal Reserve, with investors pricing in a high probability of two more rate cuts before the end of the year.

Aksha Kamboj, Vice President of the India Bullion and Jewellers Association (IBJA), highlighted that investors are choosing to hold their gold positions rather than selling, indicating strong confidence in the precious metal’s future performance.

Analysts are providing various support and resistance levels for both gold and silver for traders to monitor. Investors are advised to consult with financial experts before making any investment decisions.

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