Accurate Gold Price on Dec 17, 2019 - closing rates according to IBJA

Gold prices on Tuesday rose for the seventh day. Silver prices too showed an increase.

According to the prices given by the Indian Bullion and Jewellers Association, the rate without GST for gold (purity-999) was up by 78, from Rs 38034 on December 16 to Rs 38112 on Tuesday, December 17.

Similarly, silver prices rose by 110 from Rs 44165 to Rs 44275 in the same time period.

Gold prices for other purity levels are as follows:

995 - Rs 37959/-

916 - Rs 34911/-

750 - Rs 28584/-

585 - Rs 22296/-

In the global market, gold was quoting higher at USD 1,478.20 per ounce, while silver was trading at USD 17.02 per ounce, reported PTI.

Market gauges Sensex and Nifty hit new milestones on Tuesday as investors cheered easing trade war tensions and sustained foreign fund inflows.

After touching an all-time intra-day high of 41,401.65, the 30-share BSE Sensex settled 413.45 points, or 1.01 per cent, higher 41,352.17 -- its fresh closing peak. Similarly, the broader 50-scrip NSE Nifty soared to its new intra-day high of 12,182.75 before ending 111.05 points, or 0.92 per cent, up at 12,165 -- a record closing level.

On the Sensex, metal stocks drove the rally riding on US-China trade deal optimism. Telecom, financial and IT stocks too boosted the index gain.

"Positive global sentiments buoyed by easing trade war tensions between the US and China continue to pump market. Economic growth remains on the lower side while risk appetite of investors are gradually improving on expectation of further steps from the government in the upcoming budget to revive consumption and attract investments," Vinod Nair, Head of Research at Geojit Financial Services, said.

The Indian market is also waiting for the outcome of Wednesday's GST Council meet.

On the currency front, the Indian rupee traded almost flat.

Brent futures, the global oil benchmark, slipped 0.17 per cent to $65.23 per barrel.

(With inputs from agencies)

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