Gold and Silver Prices Today (Sept 1, 2025): Precious metal futures at record highs; MCX yellow metal soars to Rs 1,05,937—Check city-wise gold rates

Gold and Silver Hit Record Highs Today (September 1, 2025): Domestic precious metal rates raced to all-time highs on Monday tracking global benchmarks, with a widely expected Fed rate cut this month boosting the appeal of the yellow metal. On MCX, gold and silver near-month contracts surged by Rs 2,113, or 2.0 per cent, to Rs 1,05,937 and by Rs 2,986, or 2.5 per cent, to Rs 1,23,357, respectively -- their highest ever levels in intraday trade. 

At around 1 pm, both metals were in the green though off their record peaks. MCX gold futures (October 3) were up 0.8 per cent at Rs 1,04,626 while silver futures (September 5) were up 1.8 per cent at Rs 1,22,525.   

Weakness in the rupee continued to prop up domestic rates. The rupee began the day at 88.24 against the US dollar on Monday, not far from an all-time low of 88.31 registered on Friday. 

Meanwhile, an American appeals court has deemed most of US President Donald Trump's tariffs unconstitutional.

Dismissing the court's move, the 47th US president has said that if his "tariffs ever went away, it would be disastrous" for the US.

In the international market, gold and silver rates hit their highest levels recorded since April 22, 2025, and September 2011, respectively. 

How analysts view gold and silver rates

"Global uncertainty due to higher US trade tariffs and weakness in the rupee continue to support prices of gold and silver. We expect gold and silver prices to remain volatile this week amid volatility in the dollar index, volatility in the rupee, and global uncertainty due to higher US trade tariffs. Gold is expected to trade in the range of $3,454-3,600 per troy ounce and silver is expected to trade in the range of $39.10-42.20 per troy ounce this week," said Manoj Kumar Jain, director at Prithvi Finmart.

At MCX, he expects support at Rs 1,03,330-1,02,800 and resistance at Rs 1,04,220-1,04,700 for gold, and support at 1,20,650-1,19,500 and resistance at 1,23,000-1,24,400 for silver.

"We suggest avoiding any kind of short-selling in gold and silver while maintaining a 'buy on dips' strategy on corrective dips. Gold is expected to test Rs 1,07,000 and silver is expected to test Rs 1,27,000 in the short term," he said. 

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Retail gold prices in major cities (per 10 grams):

Please note: These are indicative rates for reference only. Actual rates may vary.