Gold price today: Rates hit a new high of $4,289 on Comex as investors seek safe-haven asset amid US-China trade tension

Gold price today: The gold futures at CME Group's Commodity Exchange (Comex) in New York hit a fresh all-time high of $4,289.90 per ounce on Thursday, 16 October 2025, as investors fueled the demand for the safe-haven asset amid US-China trade tension.

According to the data collected from the Comex website, the gold futures hit an intraday and lifetime high of $4,289.90 per ounce during Thursday's market session, after the commodity gained more than 2% in the global market.

According to a Reuters report, investors were focusing on the tensions looming over the US-China trade talks and the US government shutdown. Investors are also looking forward to a potential US Federal Reserve interest rate cut later this month.

“Gold's trajectory will hinge on the rate-cut picture heading into 2026 as well as the developments around US-China. If no deal is reached between the US-China and the relationship continues to deteriorate, that could be the spark gold needs to cross the $5000/oz barrier,” Zain Vawda, analyst at MarketPulse by OANDA, told the news agency.

A buying pattern in precious metal commodities, such as gold, suggests a heightened investor appetite for safe-haven assets compared to high-risk assets like equities amid geopolitical uncertainty.

MCX Gold Today

Gold futures on the Multi-Commodity Exchange (MCX) on Thursday, 16 October 2025, jumped 1.91% or ₹2,437 per 10 grams ahead of the Dhanteras festive season this year.

Gold futures for the October 2025 contract jumped 1.3% or ₹1,655 per 10 grams to ₹129,647 per 10 grams on Thursday, 16 October 2025, compared to its previous level of ₹127,210 per 10 grams at the previous commodity market session, according to MCX data.

According to the official data, as of 22:06 p.m. (IST), the gold futures were trading 1.66% higher at ₹129,327 per 10 grams compared to the previous commodity market close.

Indians celebrate the occasion of Dhanteras 2025 by purchasing gold and silver ornaments and coins to mark the auspicious start of the upcoming Diwali festivities in the nation. Dhanteras is the first day of Diwali, a Hindu festival where people purchase precious items as a symbol of prosperity.

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