GOLD SURGES RS 1,185 TO RS 1.28 LAKH/10G, CROSSES $4,250 MARK

Gold prices on Thursday surged by Rs 1,185 to scale an all-time high of Rs 1,28,395 per 10 grams in the domestic futures trade, while the yellow metal crossed the USD 4,250, per ounce globally, driven by expectations of interest rate cuts by the US Federal Reserve, and persistent geopolitical tensions.

- AGENCIES

On the Multi Commodity Exchange (MCX), gold futures for December delivery climbed by Rs 1,185, or 0.93 per cent, to reach a new peak of Rs 1,28,395 per 10 grams.

Extending the gains for the fifth consecutive session, the February 2026 contract for the yellow metal futures also rose sharply by Rs 977, or 0.76 per cent, to touch an all-time high of Rs 1,29,380 per10 grams.

“Gold prices remain elevated at record levels, driven by expectations of more interest rate cuts from the US Federal Reserve (Fed) and ongoing tensions between Washington and Beijing,” Darshan Desai, Chief Executive Officer of Aspect Bullion and Refinery, said.