New Delhi, Dec. 12 -- Gold prices continued to shine as they hit another historic high in Friday's session, December 12, supported by a sustained drop in the US Dollar index, weighed down by the prospect of rate cuts next year.

The February futures contract on MCX opened higher at Rs.1,32,442 per 10 grams, compared to the previous close of Rs.1,32,469, and maintained momentum to touch a fresh record high of Rs.1,35,263 per 10 grams, bringing the year-to-date rally to 75%, putting the yellow metal on track for its biggest annual gain since 1979.

By 8:30 PM IST, MCX gold was trading Rs.2,684, or 2.03%, higher at Rs.1,35,153 per 10 grams. The spot gold price also edged higher, rising 1.35% to $4,346 per ounce, marking a seven-week high and...