Gold prices on Wednesday surged by Rs 1,100 to cross Rs 1.21 lakh per 10 grams mark in the national capital, tracking firm global cues amid the US government shutdown after the Congress failed to approve fresh federal funding.

According to the All India Sarafa Association, the precious metal of 99.9 per cent purity jumped Rs 1,100 to hit a fresh peak of Rs 1,21,100 per 10 grams (inclusive of all taxes). It had closed at Rs 1,20,000 per 10 grams on Tuesday.

In the local bullion market, gold of 99.5 per cent purity appreciated by Rs 1,100 to hit a lifetime high of Rs 1,20,500 per 10 grams (inclusive of all taxes) on Wednesday. The yellow metal had settled at Rs 1,19,400 per 10 grams in the previous session.

However, silver prices remained flat at Rs 1,50,500 per kilogram (inclusive of all

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