Gold price today, May 22 -- Gold rate declined in the domestic futures market in morning deals on Friday, 22 May, amid weak global cues, a stronger dollar, and concerns that rising inflationary pressures will lead to rate hikes across major economies.

MCX gold June futures were down 0.25% at Rs.1,59,202 per 10 grams, while MCX silver July futures were 0.43% down at Rs.2,73,690 per kg around 9:05 am.

Gold prices in the US looked set for their second consecutive weekly loss, as higher oil prices, driven by the Middle East conflict, have raised speculations of interest rate hikes by the US Federal Reserve.

(This is a developing story. Please check back for fresh updates.)

Published by HT Digital Content Services with permission from MINT...