New Delhi, May 13 -- The yellow metal's rates in India gained nearly 6% in the domestic futures market on Wednesday, May 13, continuing to trade above the Rs.150,000 level over the last few sessions.

Gold prices edged lower on Wednesday as uncertainty in the Middle East and stronger-than-expected U.S. inflation data dimmed hopes for Federal Reserve rate cuts. Spot gold fell 0.4% to $4,695.99 per ounce, as of 0231 GMT. U.S. gold futures for June delivery gained 0.4% to $4,705.30.

On Wednesday, May 13, MCX Gold 5 June contracts were priced at Rs.1,62,648 per 10 grams. Meanwhile, MCX Silver 3 Juy contracts was up by 6.42% at Rs.2,96,984 per kg. These gains can be attributed to positive global cues and a decline in the US dollar and crude o...