The MCX April gold futures were trading at Rs 66,491 per 10 grams, rising Rs 124 or 0.19% while May silver futures were trading at Rs 74,808 per kg, higher by Rs 146 or 0.20%.
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.
The Dollar Index (DXY) has corrected by 1.05% in the past five trading sessions falling below the 103 mark against a pack of six major currencies. Today, it was trading with a minor uptick at 102.74, up by 0.03 points or 0.03%.
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%.