The Dollar Index (DXY) is hovering above the 104 mark against a basket of six top currencies at 104.39, up by 0.16 points or 0.16%. It has gained 0.95% over the past five trading sessions.
Gold and silver contracts opened positively on Wednesday, with April gold futures gaining 0.12% and May silver futures rising by 0.10%. Prices have declined from their all-time high due to fears of prolonged elevated interest rates and higher consumer inflation in the US. MCX gold prices have risen 4.78% MTD and 3.73% YTD.
Taking cues from the international prices, MCX April gold futures were trading flat at Rs 62,566 per 10 grams while the May Silver contracts were trading at Rs 71,382 per kg, higher by Rs 103 or 0.14%.
Gold Rate Today: Yellow metal shines in opening trade Should you buy or book profits? indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
The DXY narrowed its losses from 0.30% over the past five trading sessions to 0.12%. Today it was hovering near the 103.88 mark against a basket of six major currencies and was down by 0.05 points or 0.05%.