NEW DELHI: Gold and silver futures gained marginally in morning trade on Friday even as the yellow metal wallowed near one-month low in international markets amid firm US dollar.
Meanwhile, President Donald Trump‘s chief economic adviser said on Thursday that any deal on coronavirus relief legislation would have to wait for now.
Gold futures on MCX were up 0.26 per cent or Rs 132 at Rs 50,414 per 10 grams. Silver futures fell 0.63 per cent or Rs 378 to Rs 60,550 per kg.
In the spot market, gold prices fell Rs 121 to Rs 50,630 per 10 gram in the national capital on Thursday, according to HDFC Securities. Silver prices also declined Rs 1,277 to Rs 60,098 per kilogram.
Globally, gold prices lingered near the one-month low hit in the previous session on Friday, as the dollar strengthened and hopes of an immediate US coronavirus aid package waned.
Spot gold was flat at $1,867.30 per ounce by 0108 GMT and was on track to post its worst week in over a month. US gold futures were down 0.1 per cent at $1,866.20.
The dollar index was steady near a one-month peak touched on Thursday and is on track for it best week since late September.
The discount of Chinese gold to international prices is expected to narrow in the fourth quarter as a recovery in the investment and wedding sectors boosts demand, a World Gold Council official said on Thursday.
Silver rose 0.3 per cent to $23.35 per ounce. Platinum was up 0.3 per cent at $850.30 and palladium gained 0.4 per cent at $2,199.64.