Gold prices hit fresh record highs on the Multi Commodity Exchange (MCX) on Tuesday. Investors flocked to the precious metal amid growing global uncertainties and expectations of further US Federal Reserve rate cuts.

MCX Gold December futures touched an all-time high of Rs 1,20,769 per 10 grams.

Around 9:15 am, gold was trading 0.43% higher at Rs 1,20,769 per 10 grams, while MCX Silver December futures rose 0.12% to Rs 1,47,701 per kg. Global gold prices mirrored this surge as investors sought safe-haven assets amid rising economic and political tensions in the United States.

Expectations that the US Fed may cut interest rates further have added to the positive sentiment around the yellow metal.

The ongoing US government shutdown, now in its seventh day, has frozen approximately $1.7 t

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