Gold rate today, May 11 -- Gold price declined on the MCX on Monday (11 May) morning as an elevated US dollar, driven by a rebound in crude oil prices, weighed on bullion.

MCX gold June futures were 0.10% down at Rs.1,52,376 per 10 grams, while MCX silver July contracts were 0.64% up at Rs.2,63,599 per kg around 9:10 am.

The dollar index rose by 0.20% after crude oil benchmark Brent Crude jumped 5% to trade above the $105 per barrel level.

Higher crude oil prices and derailed US-Iran talks have fuelled inflation worries, strengthening the expectations of no rate cuts by the US Federal Reserve this year. Higher-for-longer interest rates are negative for non-yielding bullion.

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