Gold rate today: Yellow metal extends rally to hit fresh record highs; check latest prices in your city on October 7

Gold rate today

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26 Aug, 2025 12:21

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Gold futures extended their record bull run to hit fresh record highs on October 7. This comes as global uncertainties including US government shutdown heightened the safe haven appeal of the precious metal.

Gold futures on Multi Commodity Exchange (MCX) with December expiry hit an all-time high level of Rs 1,20,900 per 10 grams today. The future contracts with February and April expiry also hit lifetime highs of Rs 1,22,231 per 10 grams and Rs 1,23,685 per 10 grams respectively.

Citywise gold rates:

Let's check the latest prices of 10 grams of 22 carat and 24 carat gold in major cities of the country on October 7:

'Overall sentiment for gold remains supremely bullish'

"Gold prices have broken above $3,900 for the first time, driven on the back of robust safe-haven demand due to rising worldwide uncertainties and changing expectations of Federal Reserve policy shifts. Although Jerome Powell's cautious rhetoric hardened the dollar post-the recent rate cut, the overall sentiment for gold remains supremely bullish. The stagflation risk, weaker growth with lingering inflation, remains on demand's side, and further rate cuts due later this year might give some more tailwinds," said Ross Maxwell, Global Strategy Lead at VT Markets.

"Although gold is still in an overbought state and has broken significant resistance levels, short-term corrections will only be the result of profit-taking and not a fundamental reversal. The surge is also supported by ETF inflows, central bank purchases, and geopolitical worries that continue to drive investors to seek safety. The long-term trend remains encouraging as long as there is solid bullish momentum, even though the $4,000 level can be viewed as psychological resistance. For investors who want to profit from gold's reputation as a safe-haven asset and hedge against risks, a dollar-cost averaging strategy is still a good option," he added.

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Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.