New Delhi, Jan 29: Gold prices have surged to a record high of Rs 1.8 lakh per 10 grams, while silver has breached the Rs 4 lakh per kilogram mark on Thursday, hitting new all-time highs.

The surge in prices follows a significant jump in the international markets, with gold surpassing $5,600 per ounce and silver reaching $120 per ounce.

On the Multi Commodity Exchange (MCX), silver futures for March delivery soared by Rs 22,090, or 5.73%, hitting a record high of Rs 4,07,456 per kilogram. Meanwhile, gold for February delivery rose by Rs 14,586, or 8.8%, to touch a new peak of Rs 1,80,501 per 10 grams on the MCX.

The rise in precious metal prices comes in the wake of the US Federal Open Market Committee (FOMC) maintaining the federal funds rate target range at 3.5% to 3.75%, contributing to further market movements.