Gold Prices Hit Record ₹1,10,312 per 10g on Fed Rate Cut Bets, Weak Dollar

Gold prices soared to an all-time high in the domestic futures market on Tuesday, surging by ₹723 to touch ₹1,10,312 per 10 grams on the Multi Commodity Exchange (MCX).

The December futures of the yellow metal rose 0.65%, tracking strong global cues as growing expectations of a US Federal Reserve interest rate cut next week lifted investor sentiment.

Traders noted that weak US labour market data has strengthened the case for monetary policy easing, putting pressure on the dollar and driving demand for gold as a safe-haven asset.

Analysts said the momentum in gold prices is likely to continue in the near term, with global investors closely watching the Fed’s upcoming policy meeting.