Gold futures crossed Rs 1.5 lakh per 10 grams on the Multi Commodity Exchange on Thursday, extending a record run driven by safe-haven demand.

The October gold contract rose Rs 1,475, or 0.99 percent, to Rs 1,50,511 per 10 grams. In the spot market, 24-carat gold was quoted at Rs 1,49,880 per 10 grams. Silver also gained, with 999 fine silver at Rs 2,24,720 per kilogram, according to market data.

Globally, gold futures rose to $4,182.06 an ounce in New York. Analysts say high US bond yields, a strong dollar, geopolitical tensions, and a weak rupee are all pushing investors toward bullion. The rupee’s slide makes imported gold costlier in rupee terms.

The rally comes just as the festive and wedding season picks up. Jewellers expect demand for coins and bars to stay firm, though making charges and GST will push the final price buyers pay above the headline rate.

Why it matters: gold has surged through 2026 on safe-haven buying. For households, the timing is awkward, as festive purchases now cost far more than a year ago.