New Delhi, Oct 7: Gold prices surged to an all-time high of ₹1,20,900 per 10 grams in domestic markets on Tuesday, driven by strong global cues amid the ongoing US government shutdown and rising expectations of interest rate cuts by the Federal Reserve.

On the Multi Commodity Exchange (MCX), December gold futures climbed ₹651 or 0.54%, touching a record ₹1,20,900 per 10 grams. The February 2026 contract also hit a lifetime high of ₹1,22,231. Silver futures followed suit, gaining ₹281 to trade near ₹1,47,800 per kg.

Globally, Comex gold breached the crucial $4,000-per-ounce mark for the first time, up nearly 1% on Tuesday. Analysts attributed the rally to the prolonged US political impasse, which has delayed key economic data releases, including the jobs report, and fueled expectations of

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