New Delhi, May 22 -- Gold and silver prices in India traded lower on Friday, tracking weakness in global bullion markets as a stronger US dollar and elevated crude oil prices fuelled expectations of higher interest rates by the US Federal Reserve.

MCX gold rate today for June futures declined by Rs.501, or 0.31%, to Rs.1,59,105 per 10 grams. MCX silver price for July futures fell by Rs.2,320, or 0.84%, to Rs.2,72,563 per kg.

This week so far, MCX gold price has risen 0.23%, while MCX silver price has remained flat.

In the international market, gold prices edged lower as the US dollar hovered near a six-week high, making dollar-denominated bullion more expensive for holders of other currencies. The yellow metal has declined around 0.4% ...