In the international market, spot gold prices touched a lifehigh of $3,945 an ounce amid a weak dollar. (Image source: Unsplash) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Gold prices surged by over Rs 2,500 to a new record of Rs 1,19,933 per 10 grams in the domestic futures trade on Monday, lifted by safe-haven buying amid the prolonged US government shutdown and growing bets on further Federal Reserve interest rate cuts.

On the Multi Commodity Exchange Ltd., gold futures for December delivery gained as much as 2.2% to reach a new high. Last week, the yellow metal futures had surged Rs 3,580 per 10 grams or 3.3%.

According to Kotak Securities, the December contract will face immediate resistance at Rs 1,20,067. Higher prices may trigger short-term profit booking.

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