In Delhi, 10 gram of 24-carat and 22-carat gold traded at Rs 54,530 and Rs 50,000 respectively. In Chennai, ten gram of 24-carat and 22-carat gold was selling at Rs 55,400 and Rs 50,790 respectively. Spot gold rose 0.2% to $1,796.53 per ounce by 2:22 p.m. ET (1922 GMT), while U. S. gold futures settled up 0.5% at $1,804.2. Gold was up about 0.2% for the week, its best in three. U. S. consumer spending, edged up 0.1% in November after climbing 0.4% in October, while inflation cooled further. With inflation close to being in line with expectations, gold prices were higher on fresh speculative buying ahead of the new year on bets that the bigger funds might move to the long side of gold at the beginning of the year, said Jim Wyckoff, senior analyst at Kitco Metals.
