Gold price today, Nov. 20 -- Gold rates traded slightly lower on the MCX in early trade on Thursday, November 20, as the dollar index rose above the 100 mark and the minutes of the US Federal Reserve dampened hopes of another rate cut in December.

MCX Gold December futures traded 0.23% down at Rs.1,22,768 per 10 grams around 9:15 am. MCX Silver was, however, 0.39% up at Rs.1,55,717 per kg at that time.

The dollar index rose to 100.30, reaching an over two-week high, and weighed on gold demand. Because gold is backed by US dollars, any rise in the greenback's value increases the cost of gold for holders of other currencies.

Meanwhile, diminishing expectations of a US Fed rate cut also exerted pressure on gold prices. The minutes from th...