Gold at new lifetime high!

Gold futures surged to new all-time highs on October 13, continuing their strong rally after a brief pause, driven by growing demand ahead of Dhanteras. December gold contracts on the MCX climbed over 2% to a record ₹1,23,977 per 10 grams, with February and April contracts also hitting fresh highs. June contracts jumped nearly 3% to ₹1,28,741 per 10 grams. Silver futures rose nearly 4%. The increase was partly fueled by US-China trade tensions, as the US announced a 100% tariff on Chinese imports along with export controls on critical software.

The festive season has boosted expectations of higher demand, as gold and silver purchases are considered auspicious during Dhanteras. Morgan Stanley highlighted that Indian households hold gold worth around $3.8 trillion, about 89% of GDP, supporting steady demand. Globally, geopolitical tensions, a softer US dollar, and ongoing Fed rate cuts have driven gold prices higher. Domestically, rupee depreciation and rising central bank gold reserves have further pushed prices up.

Experts advise investors to hold existing investments or adopt a systematic buying approach rather than investing a lump sum amid record-high prices.