New Delhi. The way gold has changed its movement in the last few days, it has changed the mood of the entire commodity market. In the week starting from Monday 1st December, gold prices may again reach near their record high. There is not just one reason. The latest economic data of America, the next policy of the Federal Reserve and the MPC meeting of RBI in India are creating such an environment in which gold seems to be gaining momentum.
Investors all over the world are currently watching very closely the movement of gold which has come out of the consolidation range. The latest PMI data, jobs report and consumer sentiment from America, Europe and Asia have again pushed investors towards gold. This is the reason why gold was seen showing tremendous rise in both domestic and foreign markets last week.
America’s data and Fed’s policy left the market breathless
Pranav Mer of Jaypee Financial Services believes that gold has now come out of consolidation. Investors are now stuck on just one thing, what signal the Federal Reserve will give. If expectations of interest rate cut in December remain strong then gold may gain further momentum. Fed Chair Jerome Powell’s speech on Monday can decide the direction of the entire market.
Developments related to Russia Ukraine peace talks are also increasing the demand for safe investment for gold. Amidst all this, the US dollar is under pressure and it is also supporting gold.
Gold crossed 129500 in MCX, domestic demand also increased its shine
Gold futures for February 2026 on MCX closed at Rs 129504 per 10 grams with a rise of Rs 3654 last week. There are two big reasons behind this in the domestic market. First, domestic demand increased due to rupee weakness and second, festivals, weddings and jewelery purchases.
According to Prathamesh Mallya of Angel One, the demand for gold in India remains strong. Apart from this, central banks around the world are buying gold and this will continue to support prices for a long time.
Gold shines in global market too, strong rally on Comex
December gold futures in Comex jumped by $ 138.8 last week to reach $ 4218.3 an ounce. This surge is also special because after an 11-hour halt in trading, gold suddenly gained strength. The weak dollar, soft statements from Fed officials and expectations of a possible 25 basis point rate cut next month have pushed gold.
Silver broke the record, crossed 1.75 lakh
Along with gold, silver also did wonders this week. On MCX, silver for delivery in March 2026 crossed Rs 1.75 lakh per kg for the first time. Comex Silver also jumped 13 percent to $56.44 and touched a record high.
MK Global’s research analyst Riya Singh says that the Fed’s soft comments and delay in US data have indicated that the cost of debt may come down. The market is now assuming that there will be a rate cut next month.
What can gold do in the coming days
According to experts, if US data indicates that the Fed will have to reduce rates, then gold can touch its record high again. At the same time, if the data comes contrary to expectations, then the recent rise may also slow down a bit. At present, the whole picture is in favor of gold and the coming week can be very turbulent in the commodity market.
