Gold futures jump to record high above ₹1.38 lakh/10 grams; Silver also soars to lifetime high

Similarly, the yellow metal contracts for the April expiry soared by ₹1,745 or 1.25% to an all-time high of ₹1,41,500 per 10 grams.

In the international market, Comex gold (for the January expiry) surged to a new record high of $4,513 per ounce.

On the MCX, silver futures advanced by ₹3,724 or 1.75% to a lifetime high of ₹2,16,596 per kilogram. White metal contracts for the May expiry increased to a fresh all-time high of ₹2,21,741 per kilogram, marking a ₹5,191 or 2.4% jump. Globally, Comex silver (for January delivery) rose to $69.62 per troy ounce.

Investors rushed to the safe-haven asset as the tensions between the US and Venezuela escalated.

Meanwhile, the US inflation data released last week reaffirmed the possibility of a rate cut in the next Federal Reserve meeting in January, with investors betting on an 80.1% chance that the Federal Reserve will opt for a quarter-point rate cut during its first meeting of 2026 in January, according to the CME Group’s Fed Watch.

Investors will be on the lookout for the US third-quarter gross domestic product (GDP) data, which is set to be released later in the day, to get further clarification on the probability of a Fed rate cut. The release of the third-quarter GDP numbers was delayed due to the government shutdown.

This week, investors will also be eyeing the release of other key US macroeconomic data, including US housing data, core durable goods and consumer confidence figures.