Gold price today, May 14 -- Gold rate declined on the MCX on Thursday (14 May) morning due to profit booking after posting a strong 6% gain in the previous session following the hike in import duties on precious metals.

MCX gold June futures were 0.18% down at Rs.1,61,897 per 10 grams, while MCX silver July futures were 1.07% down at Rs.2,97,027 per kg around 9:10 am.

In the previous session, gold June futures jumped nearly 6%, and silver July futures surged more than 7.5% after the government hiked import duties on gold and silver to 15%.

The focus is on the ongoing talks between U.S. President Donald Trump and Chinese President Xi Jinping.

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

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