NEW DELHI: Gold and silver prices eased on Wednesday as investors booked profits, though a softer US dollar and lingering geopolitical uncertainty capped the decline.
MCX gold April futures lost 0.52 per cent to Rs 1, 62, 452 per 10 grams around 11.15 am on an intraday basis. Meanwhile, MCX silver May futures declined 1.69 per cent to Rs 2, 73, 150 per kg.
The profit booking followed the MCX gold April futures contract rising almost 2 per cent and the silver May futures surging 4 per cent in the previous session.
The US dollar weakened 0.07 per cent on an intraday basis to 98.75 cent, making dollar‑priced bullion cheaper for holders of other currencies.
Meanwhile, crude oil fell below $90 a barrel, cooling off inflation concerns of traders that had earlier bolstered demand for gold as an inflation hedge.