International News
Gold and silver surge to record highs driven by growing expectations of U.S. interest rate cuts
Gold and silver prices soared to new all-time highs in India on Monday, driven by growing expectations of U.S. interest rate cuts in the coming months, which could weaken the dollar. Heightened geopolitical tensions and tariff-led trade concerns further fueled the rally, while robust industrial demand lent additional support to silver, analysts said.
In global markets, gold surged past the $3,750/oz mark, setting a fresh record and edging closer to $3,800, while silver spiked above $44/oz, its highest level in 14 years.
Mirroring the global uptrend and compounded by a weaker rupee, domestic futures hit record levels on MCX: October gold futures neared Rs.1.12 lakh per 10 gm, and December silver futures touched Rs.1.33 lakh per kg, marking historic peaks for both precious metals.
Traders said the momentum is likely to continue in the near term, with festive demand in India potentially adding a further boost to gold consumption. Silver, already buoyed by industrial demand, could see continued investor interest as both a commodity and a hedge.
The US Fed’s 25 basis points rate cut and prospects of additional easing by year-end have boosted sentiment for gold, while a subdued dollar index and weaker rupee added momentum. Persistent central bank purchases, strong ETF inflows, and safe-haven buying have further fuelled the precious metals’ strength,
Industry analysts remain cautiously optimistic, highlighting that while global uncertainties and dovish U.S. monetary expectations are currently propelling prices, sustained volatility cannot be ruled out. Investors are advised to track the upcoming U.S. Federal Reserve policy meetings, global inflation data, and geopolitical developments, all of which will be key in determining the trajectory of precious metals.
DMCC – the leading international business district that drives the flow of global trade through Dubai – officially launched DMCC FinX today during the 13th Dubai Precious Metals Conference (DPMC) at Atlantis The Palm. Bringing together more than 1,000 senior industry figures, the conference convened global leaders from precious metals, finance, policy and technology to examine the forces reshaping the future of the sector.
Held under the theme “The Future of Precious Metals: Tariffs, Tokenisation and Trade Flows,” DPMC 2025 explored the rapid transformation of global commodities markets as geopolitical realignment, emerging technologies and reconfigured trade corridors redefine how value moves worldwide. Discussions centred on the convergence of precious metals, digital assets and finance; the rise of tokenisation; and Dubai’s accelerating role as a centre of trust, transparency and innovation for the global gold and precious metals industry.
Keynote speeches were delivered by H.E. Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, Ruth Crowell, Chief Executive of the London Bullion Market Association (LBMA) and global financial commentator Grant Williams. The conference featured senior representatives from leading exchanges, refineries, bullion banks and regulatory bodies, including the World Gold Council, the Shanghai Gold Exchange, CME Group and the UAE Ministry of Economy. Panel sessions explored the realignment of global trade flows, the harmonisation of international standards, responsible sourcing in artisanal mining and the evolving role of bullion banks in a multipolar economy.
One of the headline announcements of the day was the formal launch of DMCC FinX – a strategic expansion designed to connect capital market participants, trade finance professionals and fintech innovators with DMCC’s rapidly growing community of more than 26,000 companies. Built on DMCC’s established financial and commodities infrastructure – including the Dubai Gold & Commodities Exchange (DGCX), its central counterparty and clearinghouse the Dubai Commodities Clearing Corporation (DCCC), DMCC Crypto Centre, DMCC Tradeflow platform, and key industry partnerships with regulatory players such as the Dubai Virtual Assets Regulatory Authority (VARA) – DMCC FinX will bridge real-world commerce, capital markets and digital assets, reinforcing Dubai’s position as a global hub where finance and trade intersect
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