New Delhi, Sep 9
Domestic gold and silver prices surged to record highs on Tuesday, tracking a global rally in precious metals amid weakness in US dollar, as disappointing US labour market data reinforced expectations of aggressive Federal Reserve rate cuts.
The gold prices touched an all-time high, while silver climbed to a 14-year peak in international markets. On the MCX, the yellow metal futures for December delivery appreciated Rs 458 or 0.41 per cent to hit a lifetime high of Rs 1,10,047 per 10 grams.
In India, the price of 24-carat gold per gram was at Rs 10,804 on Tuesday, according to data published by the India Bullion and Jewellers Association (IBJA).
The rally followed US non-farm payrolls rising by just 22,000 in August, far below forecasts of 75,000, with unemployment during the month jumped to 4.3 per cent.