Mumbai : Gold prices surged to a new record high on Wednesday, crossing Rs 1.27 lakh per 10 grams on the Multi-Commodity Exchange (MCX). The rise came as global gold prices rallied on renewed US-China trade tensions and growing expectations of further interest rate cuts by the US Federal Reserve. At the opening, MCX gold futures were up 0.52 per cent at Rs 1,26,915 per 10 grams, compared to the previous close of Rs 1,26,256.

Soon after, prices touched a fresh all-time high of Rs 1,27,500 per 10 grams. Silver prices also gained, opening 0.18 per cent higher at Rs 1,59,800 per kg and hitting an intra-day high of Rs 1,61,418. During the early trade, gold was trading 0.46 per cent higher at Rs 1,26,835 per 10 grams, while silver was up 0.52 per cent at Rs 1,60,333 per kg. Read Also Diwali

See Full Page