Gold price today: The rates of gold and silver rose on the MCX on Friday morning (October 10) amid a decline in the US dollar, while healthy spot market demand and positive global cues remained key supports for precious metals.

MCX Gold December futures traded 0.38 per cent up at ₹1,20,951 per 10 grams, while the MCX Silver December futures were flat at that time.

The dollar index declined by more than 0.20 per cent during the session, making gold cheaper in overseas currencies.

Gold is priced in US dollars, so weakness in the US currency makes gold cheaper in other currencies, thereby enhancing its demand.

(This is a developing story. Please check back for fresh updates.)