Mumbai, Oct 16 || Gold prices soared to a fresh record high on Thursday as investors turned to the safe-haven metal amid rising geopolitical tensions and economic uncertainty.
Expectations of US interest rate cuts and a weaker dollar also boosted demand for the yellow metal.
MCX Gold December futures surged by nearly Rs 1,200, or 1 per cent, to hit a new record of Rs 1,28,395 per 10 grams.
Similarly, MCX Silver December futures jumped over Rs 1,900, or more than 1 per cent, to reach a fresh high of Rs 1,64,150 per kg.
In the morning trade, gold futures on MCX were trading 0.60 per cent higher at Rs 1,27,960 per 10 grams, while silver futures were up 1 per cent at Rs 1,63,812 per kg.