New Delhi, Oct. 7 -- Gold and silver prices in your city on October 7: Gold prices hit a new all-time record high today, on October 7 (Tuesday) amid a continued United States government shutdown and on high hopes that the US Federal Reserve will cut interest rates this month.

At around 10.30 am, gold MCX prices hit the all-time high of Rs.1,20,900 per 10 grams, while silver MCX prices were trending at Rs.1,47,800 per kg, at the time. At time of writing, around 12.40 pm, gold and silver rates had slightly eased to Rs.1,20,286/10 grams and Rs.1,47,356/kg, respectively.

In the international spot market, according to a Reuters report, Spot gold hit an all-time high of $3,977.19 in the morning session; and US gold futures for December delive...