Gold price today: Rates of gold jumped on the MCX on Friday (September 12) morning, while silver hit its fresh record high, buoyed by US Fed rate cut optimism. MCX Gold October futures traded 0.46 per cent higher at ₹1,09,485 per 10 grams around 9:10 am, while MCX Silver December futures were 0.91 per cent up at ₹1,28,095 per kg at that time after hitting its record high of ₹1,28,294. MCX Gold had touched a record high of ₹1,09,840 per 10 grams on September 9.
Precious metals are rising on the almost certain assumption that the US Fed will cut the rate by 25 bps on September 17, amid clear signs of the US labour market losing steam.
The revised jobs data showed the US economy created as many as 9,11,000 fewer jobs in the 12 months through March than previously estimated.
Moreover, the unemployment rate in the US economy jumped to 4.3 per cent in August, compared to their 4.2 per cent level in July 2025, while the US job growth was at 22,000 in August, a massive drop compared to their 79,000 level in July 2025.
Meanwhile, US consumer inflation rose to its highest this year after January, government data showed on Thursday. The US consumer inflation, the highest in seven months, rose more than analysts expected.
The US Consumer Price Index (CPI) increased by 2.9 per cent in August, a 0.2 per cent increase from July, when it rose 2.7 per cent.
(This is a developing story. Please check back for fresh updates.)
