Gold at all-time high of `1.3 lakh/10gm
image for illustrative purpose
New Delhi: Gold prices touched a new record high on Monday, Gold price surged Rs9,700 to record Rs1.3 lakh/10 grams, while silver hits lifetime high of Rs1,57,400/kg in New Delhi, according to All India Sarafa Association (AISA).
Gold price crossed the $3,900 per ounce mark as investors rushed to the safe-haven asset amid fears of a prolonged US government shutdown and expectations of more rate cuts by the Federal Reserve. Spot gold rose 0.4 per cent to $3,900.40 per ounce in early Asian trade after briefly hitting an all-time high of $3,919.59.
US gold futures for December delivery also gained 0.5 per cent to $3,926.80. The rally in gold came as political uncertainty deepened in the US. Adding to the momentum, expectations are rising that the Federal Reserve will cut interest rates further this year.
