Gold price today, Jan. 21 -- Gold rates surged by over Rs.4,100, or almost 3%, on the MCX on Wednesday (January 21) morning, hitting a fresh record high, fuelled by US-EU trade war fears, the dollar's weakness and strong retail demand.

MCX gold February futures jumped by over Rs.4,100, or nearly 3%, to hit a record high of Rs.1,54,710 per 10 grams, while MCX silver March futures rose by over Rs.2,800, or nearly 1%, to Rs.3,26,487 per kg during the morning session.

International gold prices also hit record highs; US gold futures jumped nearly 2% to $4,847.20 per troy ounce.

The United States (US) and the European Union (EU) are on the cusp of a major trade war that could have serious ramifications for the global economy and potentially ...