Gold for December delivery was trading at Rs 30,341, up Rs 169.00 over the previous day's closing on the MCX. Silver for December delivery was trading at Rs 44,975, up Rs 475.

Gold has been steady over the last few months, though, it is headed for its first drop in 12 years. Investors have preferred equities to gold for most part of the year, as major global stocks markets have seen sharp rally.

It's unlikely that gold would see highs anytime soon.

In international markets, Spot gold rose to $1,252. It hit $1,256 in early trade, its highest since Nov. 20. Check gold rates here

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