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Gold futures surged Rs 535 to a record Rs 1,17,800 per 10 grams in domestic trading on Wednesday, driven by safe-haven demand amid the US government shutdown and weak US labour data raising expectations of a Federal Reserve rate cut.
On the Multi Commodity Exchange (MCX), December gold futures rose 0.45% to Rs 1,17,800 per 10 grams, while the February contract extended gains for a fifth consecutive session, climbing Rs 617 or 0.52% to a lifetime high of Rs 1,19,055 per 10 grams.
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