Gold surged to a record Rs 1,15,450 per 10 grams on Tuesday, on track for its strongest monthly gain since 2011. Safe-haven demand, US government shutdown fears, and expectations of Federal Reserve rate cuts fueled the yellow metal’s rally.

Mumbai: The price of gold reached a record high on Tuesday, on track for its largest monthly surge in 14 years amid concerns over a potential US government shutdown and rising expectations for further Federal Reserve rate cuts.

The price of yellow metal has risen 11.4 per cent so far in September, on track for its best month since August 2011 when it rose 15 per cent boosted by safe haven demand.

The price of 24-carat gold (10 gram) rose to a new high of Rs 1,15,450 on Tuesday, according to data published by the India Bullion and Jewellers Associati

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