(Dec 27): Gold rose for a fourth straight session, topping US$1,500 ($2,031) an ounce and on course for its best annual gain since 2010.

The metal touched a seven-week high as investors positioned for 2020, with post-Christmas gains coming even as global equities inched higher and U.S.-China trade concerns eased.

The break through US$1,500 in the face of new highs in U.S. stocks, a rebound in U.S. Treasury yields and a strong dollar “leads to an assumption that bulls will buy in the New Year, so the market is trying to position ahead of time,” said Tai Wong, the head of metals derivatives trading at BMO Capital Markets. “It has momentum that is a little mysterious and no one wants to stand in the way.”

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