Domestic gold prices traded flat on Wednesday amidst mixed trends in domestic equities and on the back of weak global cues.

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MCX gold August futures were trading at Rs 16, 0.03 per cent down at Rs 51,366 per 10 gram. While silver August futures were trading at Rs 104, a 0.2 per cent down at Rs 57,482 per kg.

Globally, yellow metal slipped as the dollar, and U.S. Treasury yields advanced after hawkish comments from Federal Reserve officials hinted at continuing aggressive interest rate hikes in the near term, according to Reuters.

In the national capital, gold declined by Rs 208 to Rs 51,974 per 10 grams, according to HDFC Securities. The yellow metal had closed at Rs 52,182 per 10 grams in the previous trade. Silver also fell sharply by Rs 1,060 to Rs 57,913 per kg from Rs 58,973 per kg in the previous trade.

Global oil benchmarks fell ahead of the OPEC meeting scheduled later today.

Domestic equity benchmarks BSE Sensex and NSE Nifty50 opened in red on Wednesday. The rupee is at Rs 79.4 against the US dollar. The dollar Index — which gauges the strength of the greenback against six peers — climbed 0.3 percent to 106.4.

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