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Gold trades higher, followed by white metal

The gold prices rose higher on the Multi Commodity Exchange (MCX) in early trade even as uncertainty looms over the US policies formulated by Donald Trump, the weaker dollar being one of the reasons behind the price rise in the yellow metal .

In the morning session, gold was trading 0.16 per cent or Rs 44 up at Rs 28,397 per 10 gram; while silver was trading 0.05 per cent or Rs 19 up at Rs 41,451 per 1 kg.

The latest holdings of SPDR Gold Trust GLD stand at 799.07 tonnes, which happens to be the world’s largest gold backed exchange traded fund; whereas, the latest holdings of New York’s iShares Silver Trust SLV, the largest silver backed ETF stand at 10444.47 tonnes.

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