• Gold and Silver surged to a record high, rising above $3900 and $47.75, fueled by investor demand for safe-haven assets following the formal commencement of the government shutdown in the United States and as forecasts of rate cuts by the Federal Reserve were reinforced by weaker labour data.
  • A federal government shutdown affects several federal agencies and services, such as national parks, museums, research initiatives, and some IRS taxpayer services.
  • The political situation with the U.S. government shutdown dispute, worries about a declining dollar, and overall geopolitical instability are all helping gold.
  • With gains of 15% in September, 29% in the July–September quarter, and 60% in the first nine months of 2025, silver has been the best-performing asset class.

Technical Triggers

  • As Gold continues its uptrend, the next resistance is $3900 (~Rs 117,800) and $3950 (~Rs 120,000). If prices rebound and fall below $3820(~Rs 115,500), then we can see profit booking.
  • Silver prices are consolidating at highs. If Nov Fut prices fall below $47.80 (Rs 142,400), we can see profit booking and retracement in prices.

Dr.Renisha Chainani, Head- Research, Augmont