Gold and silver prices surged in India on Monday as growing expectations of an interest rate cut in the United States drove investor sentiment, pushing the precious metals higher. Silver, in particular, hit a record high in the domestic spot market.

The price of 24-carat gold slipped marginally by Rs 10 in early trade, with ten grams trading at Rs 1,29,810. Silver prices also declined slightly by Rs 100, with one kilogram priced at Rs 1,84,900. The price of 22-carat gold fell by Rs 10, bringing ten grams to Rs 1,18,990.