Gold prices in India traded lower on the Multi Commodity Exchange (MCX) Friday as the international spot prices fell amid strong US economic data, analysts said.

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At 11:10 am, gold futures for June delivery fell 0.07 percent to Rs 46,694 per 10 grams as against the previous close of Rs 46,726 and opening price of Rs 46,743 on the MCX. Silver futures traded 0.29 percent lower at Rs 68,437 per kg. The prices opened at Rs 68,465 as compared to the previous close of Rs 68,637 per kg.

“The gold prices fell after the US dollar rebounded and a surge in US Treasury yields. Strong US economic data seems dollar supporting. The precious metals are expected to remain sideways to negative, going ahead,” said Ajay Kedia, director, Kedia Advisory.

International gold prices fell on Friday, on track to post their worst week in a month, as strong US economic data and elevated Treasury yields weighed, while palladium came off a record high scaled a day earlier, a Reuters report said.

Spot gold slipped 0.3 percent to $1,765.15 per ounce, down nearly 0.6 percent so far in the week. US gold futures were down 0.1 percent to $1,765.60 per ounce.

Despite the decline, bullion was poised for its first monthly gain of this year, having jumped to a two-month high of $1,797.67 on April 22.

Benchmark US 10-year Treasury yields hovered near a more than two-week high, increasing the opportunity cost of holding non-yielding bullion.

“On MCX, gold may find support at Rs 46,480 and resistance at Rs 46,980. Support for silver is seen at Rs 66,200 and resistance at Rs 68,600,” Kedia added.

Here are gold rates across major cities:

Here are silver rates across major cities:

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