MUMBAI: Gold prices surged to a new record high on Wednesday, crossing Rs 1.27 lakh per 10 grams on the Multi-Commodity Exchange (MCX).
The rise came as global gold prices rallied on renewed US-China trade tensions and growing expectations of further interest rate cuts by the US Federal Reserve.
At the opening, MCX gold futures were up 0.52 per cent at Rs 1, 26, 915 per 10 grams, compared to the previous close of Rs 1, 26, 256.