Domestic gold prices dropped against the falling dollar on Wednesday as investors held back from making big bets ahead of the US Federal Reserve's latest policy meeting minutes, which could offer clues on further interest rate hikes. On MCX, yellow metal rates were down by nearly 0.1 percent at Rs 52,219 per 10 grams on Wednesday. Meanwhile, Silver rates gained by Rs 94 to touch Rs 61,080 per kg. Globally, spot gold was flat at $1,740.23 per ounce by 0306.

Share Market Live

NSE

The metal rates remained choppy as the dollar traded lower. Around 11 am, US Dollar Index Futures - Dec 22 was down by 0.16 percent at around 107. With this, the rupee depreciated by 13 paise from its previous close to 81.80 versus the US dollar on Wednesday.

However, crude oil prices rose in early trade after industry data showed a more-than-expected decline in US crude stockpiles last week. Brent crude futures fell 0.2 percent to $88.2 per barrel at the last count. WTI futures were marginally down to $80.9 per barrel at the last count.

Indian equity benchmarks BSE Sensex and NSE Nifty50 opened in the green on Wednesday amid positive cues from global markets.

Catch the latest market updates with CNBC-TV18's blog