Gold prices hit a new milestone on Wednesday, crossing the Rs 1.22 lakh mark per 10 grams on the Multi Commodity Exchange (MCX). The surge came as global uncertainty, a weak dollar, and expectations of US interest rate cuts pushed investors towards the safe-haven metal.

GOLD TOUCHES FRESH LIFETIME HIGH

During morning trade, MCX Gold December futures jumped to a record Rs 1,22,165 per 10 grams, up 0.86%. Silver futures also gained 1.14% to Rs 1,47,450 per kg.

This marks the first time gold has crossed the Rs 1.22 lakh level, reflecting the strong bullish sentiment seen through the year.

According to traders, the rally is being driven by robust demand from central banks , steady inflows into gold ETFs, and the expectation of two more rate cuts by the US Federal Reserve, one in October

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