The dollar index (DXY) was trading slightly lower at 102.90 against a basket of six top currencies, up by 0.50 points or 0.49%. It has appreciated 0.32% over the past five trading sessions.
Taking cues from the international market, MCX February gold futures were trading in the green. They were hovering around Rs 62,209 per 10 grams, up by Rs 421 or 0.68% from Thursday s closing price. Meanwhile, the March Silver futures were trading at Rs 71,897 per kg, higher by Rs 543 or 0.76%.
"The dollar index has recovered from lower levels after FOMC minutes stated that the time of interest rate cut is not yet confirmed. We also see thin demand for gold and silver in the physical markets," Anuj Gupta, Head-Commodity & Currency, HDFC Securities said.
Comex Gold futures were trading at $2,036.40 per troy ounce on Wednesday, up by $3.40 or 0.17% while Silver futures were trading at $23.170, lower by $0.079 or 0.340%.
Comex Gold futures were trading at $2,039.60 per troy ounce on Tuesday, up by $6.10 or 0.30% while Silver futures were trading at $23.335, lower by $0.025 or 0.110%.