Gold trades at 0.04pc higher in New York

Gold prices was traded 0.04 per cent higher at US $1,818.20 per ounce in New York, report agencies.

But prices of the precious metal slid in India over the news that the United States has moved towards early vaccination to its people against Covid-19.

Gold prices on Wednesday rose by Rs 90 to Rs 48,657 per 10 gram in futures trade as speculators created fresh positions on firm spot demand.

On the Multi Commodity Exchange, gold contracts for February delivery traded higher by Rs 90, or 0.19 per cent, at Rs 48,657 per 10 gram in a business turnover of 12,892 lots.

Fresh positions built up by participants led to the rise in gold prices, analysts said.

An earlier report said: Gold and silver futures prices slid lower in the morning trade on Wednesday as the US moved towards early vaccination while companies raced towards getting approvals from authorities.

US officials on Tuesday unveiled plans to begin vaccinating millions of Americans against Covid-19 as early as mid-December, as infections and hospitalisations continue to soar.