Mumbai, Oct 1
The price of gold is hovering around a record high on Wednesday, amidst growing concerns of a US government shutdown, while weak labour data strengthened expectations of further interest rate cuts by the Federal Reserve.
The price of 24-carat gold (10 gram) rose to a new high of Rs 1,15,350 on Wednesday, according to data published by the India Bullion and Jewellers Association (IBJA).
On Tuesday, the price of bullion closed at Rs 1,16,903 per 10 grams as per IBJA data. US gold futures for December delivery rose 0.7 per cent to $3,901.