Gold prices on Monday surged by Rs 1,447 to a new record of Rs 1,19,560 per 10 grams in the domestic futures trade, lifted by safe-haven buying amid the prolonged US government shutdown and growing bets on further Federal Reserve rate cuts.

On the Multi Commodity Exchange (MCX), gold futures for December delivery appreciated by Rs 1,447, or 1.22 per cent, to a lifetime high of Rs 1,19,560 per 10 grams.

Extending gains for the seventh consecutive session, the February 2026 contract advanced Rs 1,512, or 1.27 per cent, to scale a record Rs 1,20,845 per 10 grams.

Last week, the yellow metal futures had surged Rs 3,222 per 10 grams or 2.8 per cent.

“Physical demand for gold remained mixed, with softness in China offset by steady buying in other Asian markets, anticipating further price gai

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