Gold prices surged by Rs 2,600 to Rs 1,24,400 per 10 grams in the national capital on Wednesday, ending a two-session losing streak amid renewed safe-haven buying ahead of the US Federal Reserve’s policy outcome.

According to the All India Sarafa Association, gold of 99.5% purity rose to Rs 1,23,800 per 10 grams (inclusive of taxes) from the previous close of ?1,21,200. The 99.9% purity gold had settled at Rs 1,21,800 per 10 grams on Tuesday.