October 6, 2025

September was a sparkling month for precious metals! Gold and silver prices climbed to new 52-week highs, making investors very happy. The US Federal Reserve cut interest rates, and worries about a possible US government shutdown gave a big push to precious metals. On the Comex market, gold thrilled everyone by zooming past the magical $3,800 mark. By the end of September, it hit an all-time high of $3,887.6, gaining a huge 10.6% in just one month. Silver was no less exciting, jumping 15% and closing at $47.9. In India, the excitement was just as hot. MCX Gold prices shot up almost 12%, settling at a dazzling ₹1,17,300 per 10 grams — a new record! MCX Silver glittered even more with a 17% rise to ₹1,42,124 per kilogram. But there’s a twist. Experts say gold’s price is now in an 'overheated zone', meaning it might cool off soon. If gold dips below $3,800, it could slide back to $3,720-$3,730 before bouncing back. But as long as it holds above $3,800, the short-term trend stays bright. Silver followed a similar pattern. It sped beyond the target zone of $43.5-$44.5 and now sits in an 'overbought territory' too. A drop below $45.5 could signal a cool down, but until then, silver is expected to keep shining. Back home, MCX gold also broke through its target zone of ₹1,10,000-₹1,12,000 last month. If it falls below ₹1,15,400, a mild downward correction may begin. For MCX silver, it surged past ₹1,30,700 - ₹1,31,500, but a fall below ₹1,40,000 suggests it may take a breather soon. So, in short, gold and silver prices have hit dazzling heights thanks to Fed moves and US worries. But their sparkle might dim a little short-term before shining again long-term. As always, investors watch with bated breath! (Note: The author is a Chennai-based analyst/trader. The views shared are based on analysis of short-term price moves at COMEX and MCX and do not count as trading or investment advice.) Published - October 06, 2025 06:51 am IST

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Tags: Gold prices, Silver prices, Comex, Mcx, Precious metals, Federal reserve,