Domestic gold prices gained a little on Friday as global prices touched one-month high supported by a week dollar. US 10 year Treasury yields were up at 2.9.

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Rupee appreciated 13 paise to 77.4 against the US dollar on Friday after closing at 77.6 in the previous session. Dollar Index — which gauges strength in the greenback against six peers —was up at 101.8.

MCX gold futures for June delivery were up by Rs 45 at Rs 51,314 per 10 gm as of 10:28 am. MCX silver futures followed suit and were up by Rs 273 or 0.4 percent to Rs 62,609 per kg.

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Ravindra Rao, CMT, EPAT, VP- Head Commodity Research at Kotak Securities, notes that ETF outflows showed weaker investor interest in gold. "Gold may remain stuck in a range amid mixed factors however with US dollar on a firmer side, the general bias may be on the downside," he said.

Manoj Kumar Jain, Head-Commodity and Currency Research at Prithvi Finmart, expects both precious metals to remain volatile in Friday’s session and continue to hold its important support levels.

Jain said: "At MCX, gold is having support at Rs 51,050 - Rs 50,900 and resistance at Rs 51,440 - Rs 51,700 while silver is having support at Rs 61,800 - Rs 61,220 and resistance at Rs 62,660 - Rs 63,100. We suggest buying silver on dips around Rs 62,000 with a stop loss at Rs 61,440 on a daily closing basis for the target of Rs 63,100."

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