Gold price today: Gold rates increased in the domestic futures market Wednesday morning, supported by weakness in the US dollar and concerns over fiscal uncertainty in the world’s largest economy. MCX Gold June 5 contracts traded 0.66 per cent higher at ₹95470 per 10 grams around 9:15 AM.
The US dollar fell below the 100 level, making gold cheaper in other currencies. Since gold is priced in dollars, weakness in the US currency makes bullion cheaper in other currencies and enhances its demand.
(This is a developing story. Please check back for fresh updates.)
