Gold and silver prices opened lower on Friday on the Multi Commodity Exchange (MCX), weighed down by a stronger US dollar, rising Treasury yields and firm crude oil prices. The market also reacted to growing expectations that the US Federal Reserve may continue with interest rate hikes.

Gold futures drop below 160 mark

Gold futures for June delivery fell by Rs 521, or 0.33 per cent, to Rs 1,59,085 per 10 grams on the MCX. Trading activity remained active with a business turnover of 790 lots, reported PTI.