Gold, silver dip as dollar flexes
Gold and silver prices on the Multi-Commodity Exchange fell in early trade on Friday, tracking weaker global markets and a stronger US dollar. Gold futures opened 0.29 percent lower at Rs 1,21,148 per 10 grams, while silver dropped 0.47 percent to Rs 1,48,140 per kg. Traders took profits ahead of key US economic data.
By 11:38 a.m., gold for December 5 delivery rose slightly to Rs 1,21,557 per 10 grams, up 0.04 percent, and silver steadied at Rs 1,48,747 per kg. Internationally, spot gold dipped 0.5 percent to $4,004 per ounce as the US dollar held near a three-month high, reducing the appeal of bullion. December US gold futures traded flat at $4,016.70.
Gold remained on track for its third straight monthly gain after rising nearly 3.9 percent in October. Meanwhile, Indian equity markets opened flat but turned positive as auto and banking stocks advanced. The Trump-Xi agreement to pause trade tensions for one year offered limited relief, with analysts noting the absence of a major trade deal.
