According to analysts, gold rates could remain volatile in short term until there's clear direction from the Federal Reserve.
Gold prices were flat today in India after rising to 7-month highs in the previous session. On MCX, gold futures were flat at ₹52,885 per 10 gram while silver rose 0.4% to ₹61,216 per kg. In the previous session, bullion rose to ₹53,200. In global markets, gold hovered near $1,765 per ounce as the recent drop in dollar index supported precious metals. A weak dollar makes the greenback-denominated bullion cheaper for overseas buyers.