New Delhi: Gold prices breached the Rs 1.20 lakh per 10 grams mark for the first time in the domestic futures trade on Monday, rising by Rs 1,962 on strong global trends amid the growing acceptance for additional rate cuts by the US Federal Reserve.

Analysts said the ongoing US government shutdown and rising trade and geopolitical tensions are also boosting demand for the safe-haven asset. On the Multi Commodity Exchange (MCX), gold futures for December delivery appreciated by Rs 1,962, or 1.66 per cent, to hit a record high of Rs 1,20,075 per 10 grams.

Similarly, the February 2026 contract extended the rally to the seventh session, jumping by Rs 2,017, or 1.69 per cent, to hit a fresh peak of Rs 1,21,350 per 10 grams. Last week, the yellow metal futures had surged by Rs 3,222 per 1

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