India, July 4 -- After falling for two consecutive days, gold prices have dropped further on Friday, with the Multi Commodity Exchange of India Ltd (MCX) quoting Rs.97,015 for 10 grams of 24-carat gold as of 10.40 am IST.

The bullion rate stands at Rs.89,238 for 22-carat gold and Rs.97,350 for 24-carat gold per 10 grams, marking a 0.280 per cent increase from Thursday.

According to a report by Livemint, growing concerns over US fiscal health and the weakness of the US dollar are positive for gold and that the waning prospects of rate cuts by the US Federal Reserve will challenge the yellow metal's gains.

US President Donald Trump also said that his administration may begin sending out letters to trading partners as soon as Friday, as h...