Gold rate today, Dec. 20 -- Following the strength in the Indian Rupee against the US Dollar on the weekend sessions, gold rates in India witnessed sharp selling. Gold price on MCX (Multi Commodity Exchange) fell from the record high of Rs.1,35,199 per 10 gm and finished at Rs.1,34,206 per 10 gm levels, logging around Rs.1,000 loss in the last three straight sessions. As Christmas is fast approaching, investors would like to know whether the bounce back witnessed in the MCX gold rate at the end of the Friday session will continue next week, or if it was just due to profit-booking by short sellers before the week off.

Speaking on the reason for the fall in gold prices, Jateen Trivedi, VP Research Analyst, Commodity & Currency at LKP Secur...