NEW DELHI– Gold prices surged to a fresh record high on Monday, driven by strong safe-haven demand and expectations of U.S. interest rate cuts in 2026 amid ongoing global uncertainty.
Spot gold climbed to an all-time high of $4,383.73 per ounce. The precious metal has seen a sharp rally this year, rising about 67 percent so far in 2025, supported by geopolitical tensions, trade concerns, and sustained investor demand for safety.
Analysts said gold and silver prices extended last week’s gains and opened the new week at lifetime highs in both domestic and international markets. The rally followed the U.S. Federal Reserve’s third interest rate cut of 25 basis points this year.
Additional support came from softer U.S. inflation data, with consumer price inflation easing to 2.7 percent year-on-year, reinforcing expectations of further rate cuts next year, analysts said.
Meanwhile, the Bank of Japan raised interest rates by 25 basis points, but its less hawkish-than-expected tone provided further support to precious metals.
Analysts said gold faces support in the $4,320–$4,285 range, with resistance seen between $4,400 and $4,425. Silver support is placed around $66.40–$65.75, while resistance lies between $67.20 and $68.00.
In the domestic market, gold has support at Rs 1,33,550–Rs 1,33,010 and resistance at Rs 1,35,350–Rs 1,35,970. Silver support is seen at Rs 2,07,450–Rs 2,06,280, with resistance near Rs 2,09,810 and Rs 2,10,970.
Analysts cautioned that renewed strength in the U.S. dollar could weigh on gold prices. However, they noted that persistent geopolitical risks and elevated market volatility continue to support high risk premiums, prompting central banks to maintain strong gold purchases, which could remain a long-term tailwind.
Silver prices also remained firm, with futures sustaining above key breakout levels, supported by healthy trading volumes and a positive technical structure. Analysts said the overall trend for precious metals remains positive, with any price corrections likely to attract buying interest rather than signal a reversal. (Source: IANS)
