New Delhi, Dec. 17 -- The rates of gold jumped by more than half a per cent, while silver surged by 4% in morning trade on the MCX on Wednesday, December 17, supported by positive global cues and expectations of further rate cuts by the US Federal Reserve after data showed US unemployment rates rose in November. MCX gold February contracts climbed by 0.55% to Rs.1,35,150 per 10 grams level, slightly below its record high of Rs.1,35,346 hit in the previous session. MCX silver March futures surged 4% to their record high of Rs.2,05,665 per kg.

However, the dollar's rise against its peers triggered profit booking in precious metals. The dollar index climbed by 0.20%, weighing on non-yielding gold. Around 9:20 am, MCX gold (February contract...