New Delhi, Dec. 8 -- The rates of gold and silver declined in early trade on the MCX on Monday morning (December 8) amid profit booking at higher levels, driven by tepid spot market demand. However, a weaker US dollar and expectations of a rate cut by the US Federal Reserve this week capped the losses for the yellow metal. MCX gold February contracts were 0.04% down at Rs.1,30,409 per 10 grams around 9:10 am, while MCX silver March contracts were down by 1% at Rs.1,81,600 per kg at that time.

In the previous session, the MCX gold February futures contract rose 0.30% to settle at Rs.1,30,462 per 10 grams, while the MCX silver March futures contract jumped nearly 3% to end at Rs.1,83,408 per kilogram after hitting an all-time high of Rs.1,...