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1h ago

Gold Tops $4,000 for First Time as Global Rush Sets New India Records

Safe-haven buying intensifies on US shutdown uncertainty.

FILE - A collection of gold coins is displayed at a shop in the St. Vincent Jewelry Center in the Jewelry District of Los Angeles, April 30, 2025. (AP Photo/Jae C. Hong, file)
Gold prices have hit record highs, with futures climbing past $4,000 per ounce.
Image
Gold bullion is displayed at Hatton Garden Metals precious metal dealers in London, Britain July 21, 2015. REUTERS/Neil Hall

Overview

  • US gold futures breached $4,000 per ounce for the first time as spot prices hovered near $3,960, marking a new peak for bullion.
  • Delhi spot prices were reported around Rs 1,30,300 per 10 grams on Monday, while MCX December futures hit a record Rs 1,20,900 on Tuesday.
  • The rally reflects a weaker dollar, growing expectations of Federal Reserve rate cuts and a data blackout from the US shutdown that has reinforced demand for bullion.
  • Institutional flows remain robust, with record quarterly ETF inflows and persistent central‑bank purchases, including an 11th consecutive monthly addition by China.
  • Silver climbed to multi‑year highs above $48 per ounce, and traders now turn to FOMC minutes and Jerome Powell’s remarks later this week for policy cues.