Gold prices today: The Gold futures in New York jumped over its $4,000 per ounce mark for the first time on Tuesday, 7 October 2025, as many commodity market investors seek a safe place to park their funds amid the US government shutdown.
The Comex gold futures jumped more than 0.79% to over $4,000 per ounce, reaching a record high compared to their previous market close at $3,976.30, according to a report from the news agency AP on Tuesday.
A buying pattern in these precious metal commodities suggests a heightened investor appetite for safe-haven assets and a shift in investor demand toward low-risk assets, such as gold, amid the uncertainty surrounding the US government shutdown.
What’s fueling the gold rally?
The global gold prices are rallying as investors are anxious to secure their investments as the US President Donald Trump-imposed US government shutdown closes in on the second week after it was implemented at midnight on Wednesday, 1 October 2025.
Along with the uncertainty surrounding the US government shutdown, the Trump-imposed tariffs, combined with lower interest rates in the US economy, have made gold a more attractive investment opportunity compared to interest-bearing investments, according to the agency report.
“Gold is perceived by many market participants as a safe-haven asset. But investors need to be aware it has a volatility of 10-15%,” Giovanni Staunovo, commodity analyst at UBS Global Wealth Management, told the news agency.
MCX Gold Today
Gold futures on the Multi-Commodity Exchange (MCX) were trading 0.72% or ₹871 higher on Tuesday as Indian investors looked towards safe-haven assets.
The MCX gold futures of the December 2025 contract were trading 0.72% higher at ₹1,21,120 per 10 grams on Tuesday, 7 October 2025, as of 11:26 p.m. (IST), compared to ₹1,20,249 per 10 grams, according to the official data.
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Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
