Gold prices in India surged today after the yellow metal rebounded in global markets. On Multi Commodity Exchange of India (MCX), gold futures for August delivery surged to a record high, rising 0.9% to Rs 35,145 per 10 gram. Domestic silver prices also followed global trend. Silver prices on MCX hardened to Rs 38,400 per 1 kg.

Gold prices inched up on Friday and were heading for their seventh consecutive weekly gain, with investors waiting for U.S. non-farm payrolls data later in the day for clues on the outlook for interest rate cuts. Spot gold was up 0.2% at $1,417.40 per ounce as of 0119 GMT. Prices touched $1,435.99 on Wednesday, the highest since June 25.

Gold prices rose by Rs 75 to Rs 34,250 per 10 gram in futures trade Friday as participants created fresh positions, tracking a firm trend overseas. On the Multi Commodity Exchange, gold for delivery in August contracts traded higher by Rs 75, or 0.22 percent, to Rs 34,250 per 10 gram in a business turnover of 17,648 lots.