Gold price today, May 20 -- MCX gold rate dropped in the morning trade on Wednesday, 20 May, due to profit taking amid a rise in the US dollar and bond yields.

MCX gold June futures were 0.60% down at Rs.1,58,137 per 10 grams, while MCX silver July futures were 0.80% down at Rs.2,68,000 per kg around 9:05 am.

The dollar index hovered near its six-week high of 99.41, while the benchmark US 10-year bond yields hit a more than one-year high of 4.69%, weighing on gold prices.

A stronger dollar makes gold denominated in dollars more expensive for buyers in other currencies, while elevated bond yields raise the opportunity cost of holding non-yielding bullion.

However, easing crude oil prices and hopes for a potential U.S.-Iran peace capped...