Gold climbs Rs 69 to Rs 39,969 per 10 gram, up 0.52% for the week

New Delhi-India (Jan 17)  Gold prices rose by Rs 69 at Rs 39,969 per 10 gram in the Mumbai bullion market on rupee's depreciation and strong US retail sales.

The precious metal was weighed down by increased appetite for riskier assets and global stock market hitting new highs after the US and China signed 'Phase One' agreement.

The rate of 10 grams 22-carat gold in Mumbai was Rs 36,612 plus 3 percent GST, while 24-carat 10 gram was Rs 39,969 plus GST. The 18-carat gold quoted at Rs 29,977 plus GST in the retail market.

According to Navneet Damani, Vice President, Motilal Oswal, gold in the last couple of sessions has been consolidating in a narrow range despite the optimism related to trade deal between US and China. Gains were limited for the yellow metal after retail sales number that was released from the US beat estimates.

MoneyControl

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