In the Multi Commodity Exchange (MCX) Gold prices for December delivery opened marginally higher at Rs 50,025 per 10 grams. In the international market also gold recovered after falling on Thursday.
Notably, since the start of the week gold prices have been showing a bearish trend as the dollar firmed and progress on a COVID-19 vaccine development boosted hopes of a faster economic rebound. Also, fading hopes of a stimulus in the US has also pressure on gold prices.
In India, the festive season is over, whereby demand for physical gold is likely to be subdued. However, since Indian markets take cues from developments abroad, the dollar movement and development on the covid vaccine would be closely watched.
Meanwhile, Indian Equity market indices are bullish on Friday morning despite mixed sentiments from global cues. BSE Sensex is trading at 43,791.21 up 191.25 points or 0.44 during the morning session.
Big changes in prices of gold and silver, Know today's rate
