Domestic gold prices gained on Friday reversing losses from previous session. MCX gold October futures climbed 0.2 percent to touch the intraday high of Rs 52,430 per 10 grams. White metal future, rose 0.5 percent to Rs 58,670 per kilogram.
Ravindra Rao, CMT, EPAT, VP- Head Commodity Research at Kotak Securities said, "Gold may continue to trade in a range near $1800/oz as Fed’s monetary tightening debate may continue however since Fed officials are maintaining support for continuing hikes, the US dollar may remain supported which may keep pressure on gold.”
Indian equity benchmarks opened flat on Friday. The rupee edged higher to 79.24 against the US dollar.
The dollar index — which gauges the strength in the greenback against six peers — rose 0.2 percent.
