Gold price today: Rates of gold jumped to their fresh all-time highs on the MCX during Wednesday’s session, driven by strong spot demand, positive global cues, concerns over the US government shutdown and expectations of further rate cuts by the US Federal Reserve.

MCX Gold breached the 1,22,000 per 10-gram mark for the first time ever, hitting a record high of ₹1,22,020. Around 9:10 am, MCX Gold December futures traded 0.69 per cent higher at ₹121949 per 10 grams. MCX Silver December futures were 0.73 per cent up at ₹1,46,855 per kg at that time.

(This is a developing story. Please check back for fresh updates.)