Gold price today, Dec. 24 -- The rates of gold and silver rose to their fresh record highs on the MCX on Wednesday (December 24) morning on expectations of further rate cuts by the US Fed and the dollar's weakness. MCX gold February futures rose by 0.40% to a record high of Rs.1,38,428 per 10 grams, while MCX silver March contracts jumped almost 2% to reach a fresh peak of Rs.2,23,742 per kg. Around 9:20 am, MCX gold was 0.34% up at Rs.1,38,354 per 10 grams, while MCX silver was 1.74% up at Rs.2,23,481 per kg.

International gold prices surpassed the $4,500 per ounce mark on Wednesday for the first time, as expectations of further US Fed rate cuts next year continued fuelling safe-haven demand.

Apart from the Fed factor, the dollar's wea...