Commodity Market Updates, September 30: Crude oil, Copper surge; Silver, Gold futures hit record highs

Gold futures

Gold prices on Tuesday, September 30, soared to hit a fresh record high of ₹1,17,788 per 10 grams in the domestic futures market, tracking sharp gains in the overseas market, as investors weighed the risk of a looming US government shutdown alongside expectations of further interest rate cuts by the Federal Reserve.

On the Multi-Commodity Exchange (MCX), the yellow metal futures for December delivery extended its gains for the fourth straight session by rallying to reach a lifetime high of ₹1,17,788 per 10 grams.

Similarly, the February 2026 contract for gold futures jumped to hit an all-time high of ₹1,19,052 per 10 grams.

In global trade, bullion prices also hit lifetime highs. Gold futures for December delivery rose more than 1% to hit a fresh peak of $3,895.22 per ounce.

Silver futures

Silver also touched fresh peaks on Tuesday. The white metal futures for December delivery jumped to hit a record high of ₹1,44,330 per kilogram on the MCX.

The March 2026 contract for silver futures appreciated to scale a new high of ₹1,45,952 per kg on the commodities bourse.

However, at the time of writing, silver futures for both December and March 2026 deliveries were trading in the red.

In the international markets, silver went up marginally to hit a high of $47.41 per ounce.

Copper futures

Copper futures rose 0.08% to ₹959.50 per kilogram due to higher spot demand.

On the MCX, copper contracts for October delivery grew by ₹80 or 0.08% to ₹959.50 per kg in a business turnover of 7,596 lots.

Analysts attributed the rise in copper prices to higher bets by participants.

Aluminium futures

Aluminium prices declined by 30 paise to ₹257.50 per kilogram in the futures trade as participants trimmed their positions on a weak trend in the spot market.

On the MCX, aluminium for delivery in October fell 30 paise or 0.12% to ₹257.50 per kg in 4,205 lots.

Analysts said that participants cutting down positions due to easing demand from consuming industries mainly kept aluminium prices lower.

Zinc futures

Zinc prices fell 0.26% to ₹285.60 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 75 paise or 0.26% at ₹285.60 per kg in 3,294 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.

Crude oil futures

Crude oil prices advanced ₹6 to ₹5,616 per barrel in futures trade as participants increased their positions following a firm spot demand.

On the MCX, crude oil for October delivery traded higher by ₹6 or 0.11% at ₹5,616 per barrel in 10,613 lots.

Analysts said participants raising bets kept crude oil prices higher in futures trade.

Globally, West Texas Intermediate crude was trading 0.36% lower at $63.22 per barrel, while Brent crude fell 0.41% to $67.69 per barrel in New York.