Gold futures surge Rs 1,185 to record Rs 1.28 lakh/10g, breaches USD 4,250 an ounce in global markets
New Delhi, Oct 16 (PTI) Gold prices on Thursday surged by Rs 1,185 to scale an all-time high of Rs 1,28,395 per 10 grams in the domestic futures trade, while the yellow metal crossed the USD 4,250 per ounce globally, driven by expectations of interest rate cuts by the US Federal Reserve, and persistent geopolitical tensions. On the Multi Commodity Exchange (MCX), gold futures for December delivery climbed by Rs 1,185, or 0.93 per cent, to reach a new peak of Rs 1,28,395 per 10 grams. Extending the gains for the fifth consecutive session, the February 2026 contract for the