Gold, silver prices surge to fresh records

New Delhi: Gold prices climbed Rs 500 to touch record Rs1.20 lakh per 10 grams in the national capital due to a weak dollar and expectations of further rate cuts by the US Federal Reserve.According to the All India Sarafa Association, the yellow metal had rallied Rs1,500 to close at Rs 1,19,500 per 10 grams on Monday.

Gold of 99.5 per cent purity extended the gains for the fourth straight session by rising Rs 500 to hit a record high of Rs 1,19,400 per 10 grams in the local bullion market. The precious metal had settled at Rs1,18,900 per 10 grams in the previous market session. In addition, silver prices increased by Rs500 to hit a new peak of Rs1,50,500 per kilogram.