Mumbai, October 16: On Friday, gold and silver prices were down. On MCX, December gold futures were down Rs 50,653 per 10 gram while silver futures edged slightly lower to Rs 61,512 per kg. The rates of the precious metal this week have been volatile this week.

In August gold had hit a record high of Rs 56,200 per 10 gram while silver had inched closer to Rs 80,000 per kg. Talking about the global markets, the prices remained muted today amid a firm US dollar and uncertainty over US stimulus package.

Spot gold slipped 0.1 percent to $1,906.39 per ounce and it is down over 1 percent so far this week. Investors turned cautious after rapidly rising coronavirus cases in the United States and put safe-haven bets in the dollar again, suggest experts. The dollar index gained around 0.50 percent and pushed global equities and commodities lower.

The price of a 10-gram 24-carat gold in Mumbai is Rs 50,530. Customers in Delhi will be able to buy a 10-gram 24-carat gold at Rs 53,740.