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Gold Rate Today: Gold prices gain amid weakness in US dollar

Gold may jump towards Rs 39,200 while taking support near Rs 38,900 .

ETMarkets.com|
Last Updated: Dec 31, 2019, 11.15 AM IST
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Gold prices are set to post their best year since 2010, having gained about 18 per cent.

Commodity Summary
MCX

GOLD
SILVER
NEW DELHI: Gold and silver traded higher in Tuesday's session as weak US dollar boosted the demand for the precious metal.

On MCX, gold futures were trading Rs 170 up at Rs 39,141 per 10 gram around 10:00 am. Silver futures rose by Rs 415 to Rs 47,270 per kg around the same time.

According to SMC Global the bullion counter may trade with a firm bias. "Gold may jump towards Rs 39,200 while taking support near Rs 38,900 and silver can move towards Rs 47,200 while taking support near Rs 46,500," the brokerage said.

Gold Rates - Spot & Futures (.995 purity) (MCX)



In global market, spot gold was little changed at $1,515.23 per ounce, Reuters reported. Prices hit their highest since October 25 at $1,516.20 in the previous session. US gold futures were unchanged at $1,518.30.

Gold prices are set to post their best year since 2010, having gained about 18 per cent, mainly driven by a tariff war between the world’s two largest economies and quantitative easing by major central banks.

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