Domestic gold prices were up again after a day's gap. The gain in yellow metal prices was supported by a pullback in the dollar after several US Federal Reserve officials suggested that interest rates would continue to rise.

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ON MCX, gold prices were up nearly 0.2 percent at Rs 52,938 per 10 gram. Meanwhile, Silver metal gained approximately 0.4 percent (Rs 225) to touch the price of Rs 61,203 per kg on Friday.

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The rise in metal prices was seen as dollar index inched lower in initial trade. However, around 12:45 pm, US Dollar Index Futures - Dec 22, rose 0.2 percent at 106.358. With this, the rupee appreciated by eight paise from its previous close to 81.57 vs US dollar on Friday.

Ravindra Rao, CMT, EPAT VP-Head Commodity Research, Kotak Securities Ltd, said, "The recent rally in gold was mainly due to expectation that Fed would slow down the rate hike in their upcoming meeting after data showing inflation cooled in October."

Crude oil prices also fell on Friday, extending losses from the previous session, as COVID-19 cases in China fueled demand worries. Brent crude futures slumped 2.6 percent to $90.4 per barrel at the last count. WTI futures plunged 3.8 percent to $82.4 per barrel at the last count.

Indian equity benchmarks BSE Sensex and NSE Nifty50 started the session higher on Friday amid mixed global cues.