Commodity Market Updates, September 29: Silver, Gold futures soar to record highs; Crude oil falls

Here is how different commodity futures were trading on September 29.

Gold futures

Gold prices scaled a fresh lifetime high in the domestic futures market on Monday, September 29, mirroring record gains in global markets amid expectations of US Federal Reserve rate cuts and a softer dollar, which buoyed sentiment.

On the Multi-Commodity Exchange (MCX), the yellow metal futures for October delivery surged to touch a lifetime high of ₹1,15,253 per 10 grams. The December contract for gold futures also advanced to hit a record ₹1,16,203 per 10 grams.

Last week, gold futures rallied by ₹4,188, or 3.77%, to close at ₹1,14,891 per 10 grams on Friday.

Globally, bullion prices continued their upward march. Gold futures for December delivery rose nearly 1% to touch a record high of $3,837.72 per ounce.

Silver futures

Silver futures witnessed robust gains as they surged to their record high.

The white metal for December delivery jumped ₹2,290 or 1.61%, to hit an all-time high of ₹1,44,179 per kilogram.

The March 2026 contract for silver futures surged by ₹2,559, or 1.79%, to a fresh peak of ₹1,45,817 per kg on the MCX.

In the previous week, silver futures had surged by ₹12,051, or 9.28%, to close at ₹1,41,889 per kg.

In the international market, silver climbed more than 1% to hit a high of $47.39 per ounce.

Zinc futures

Zinc prices fell 0.48% to ₹283.20 per kilogram in futures trade as speculators reduced their exposure, tracking negative cues from the spot market.

On the MCX, zinc contracts for October delivery traded lower by ₹1.35 or 0.48% at ₹283.20 per kg in 3,291 lots.

Analysts said the trimming of positions by participants owing to slackened demand from consuming industries in the physical market mainly weighed on zinc prices.

Copper futures

Copper futures declined by ₹7.35 to ₹946.90 per kilogram as participants reduced their positions amid muted demand in the domestic market.

On the MCX, copper futures for the October contract eased by ₹7.35 or 0.78% to ₹946.90 per kilogram in a business turnover of 7,210 lots.

Analysts attributed the decline in copper prices to lower bets by participants.

Aluminium futures

Aluminium prices rose 90 paise to ₹256.10 per kilogram in the futures trade as speculators built up fresh positions amid a positive trend in the spot market.

On the MCX, aluminium for delivery in October increased 90 paise or 0.35% to ₹256.10 per kg in 4,063 lots.

Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.

Crude oil futures

Crude oil futures declined by ₹26 to ₹5,807 per barrel, as participants trimmed their positions amid weak demand in the spot market.

On the MCX, crude oil for October delivery fell ₹26 or 0.45% to ₹5,807 per barrel in 10,883 lots.

Analysts said the prices were affected after participants offloaded their holdings amid weak demand in the spot market.

Globally, however, West Texas Intermediate crude oil was trading 0.41% lower at $65.31 per barrel, while Brent Crude fell 0.46% to $69.81 per barrel in New York.