Gold price today, Sept. 12 -- Rates of gold jumped on the MCX on Friday (September 12) morning, while silver hit its fresh record high, buoyed by US Fed rate cut optimism. MCX Gold October futures traded 0.46 per cent higher at Rs.1,09,485 per 10 grams around 9:10 am, while MCX Silver December futures were 0.91 per cent up at Rs.1,28,095 per kg at that time after hitting its record high of Rs.1,28,533. MCX Gold had touched a record high of Rs.1,09,840 per 10 grams on September 9.

Precious metals are rising on the almost certain assumption that the US Fed will cut the rate by 25 bps on September 17, amid clear signs of the US labour market losing steam.

The revised jobs data showed the US economy created as many as 9,11,000 fewer jobs in...