New Delhi, Oct. 1 -- Gold prices saw a significant rally on Wednesday, climbing Rs.535 to an all-time high of Rs.1,17,800 per 10 grams in domestic trade, following strong global cues as investors turned to safe-haven assets amid the US government shutdown and weak labor data, which bolstered expectations of Federal Reserve rate cuts.

On the Multi Commodity Exchange (MCX), December delivery contracts gained Rs.535, or 0.45%, to reach the record level of Rs.1,17,800 per 10 grams. Meanwhile, the February contract advanced for the fifth consecutive session, rising Rs.617, or 0.52%, to a lifetime peak of Rs.1,19,055 per 10 grams.

Globally, Comex gold futures for December delivery climbed nearly 1 per cent, crossing the USD 3,900 per ounce ma...