Gold and silver prices witnessed sharp gains on the MCX in the morning session on Tuesday, October 14, as escalating US tariffs and expectations of additional rate cuts by the US Federal Reserve strengthened safe-haven demand. MCX Gold December futures jumped over ₹2,300 (1.8%) to a record ₹1,26,930 per 10 grams, while MCX Silver December futures surged by more than ₹8,000 (over 5%) to an all-time high of ₹1,62,700 per kg. The rally was driven by renewed trade tensions between the US and China, as President Donald Trump announced 100% tariffs on Chinese goods and export restrictions on key US-made software from November 1, following Beijing’s tighter rare-earth export controls. Domestically, gold has risen over 60% year-to-date as investors move away from equities toward safer assets. Analyst Anuj Gupta advised partial profit booking in both metals, predicting post-Diwali corrections in spot premiums—₹8,000 for gold and ₹30,000 for silver—though the long-term outlook remains bullish. Gupta sees MCX gold reaching ₹1,28,000–₹1,30,000 per 10 grams by end-2025. Analysts identified gold support near ₹1,23,300 and silver around ₹1,52,800.
