New Delhi, Jan. 2 -- Gold and silver prices continued to trade higher for the second consecutive session on Friday, 2 January, as demand for safe-haven assets strengthened following the late-year crash amid improving expectations of additional rate cuts from the US Federal Reserve and rising geopolitical risks.

The February gold futures contract on MCX opened higher at Rs.1,36,999 per 10 grams, compared to the previous close of Rs.1,35,804, and scaled to the day's high of Rs.1,37,098.

By 8:10 PM IST, MCX gold was trading Rs.369, or 0.27%, higher at Rs.1,36,173 per 10 grams. The spot gold price also rises 1.8% to $4,402 per ounce.

Silver prices also resumed higher following a muted close during Thursday's session. The silver March futur...