Gold prices opened lower on Multi Commodity Exchange of India (MCX) on Friday tracking weakness in global bullion prices as the dollar strengthened.
MCX gold rate for December futures opened lower at ₹1,13,795 per 10 grams as against its previous close of 1,13,871. MCX silver price opened lower at 1,36,876 as compared to its previous close of ₹1,37,056 level.
In the international market, gold prices fell after stronger-than-expected US economic data cast doubt on the Federal Reserve’s rate cut outlook, bolstering the dollar.
Spot gold price declined 0.2% to $3,741.21 per ounce, though the metal was up 1.6% so far this week. US gold futures for December delivery were unchanged at $3,771.30.
The US dollar index hovered near a three-week high, making greenback-priced bullion more expensive for overseas buyers.
(To be updated)