Gold rate today, June 6 -- Following the weak US economic data, MCX gold rate opened with an upside gap at Rs.98,248 per 10 gm and touched an intraday high of Rs.98,378 within a few minutes of the Opening Bell. The MCX gold rate had ended at Rs.97,874 per 10 gm on Thursday. The sift US economic data outweighed initial optimism over U.S. President Donald Trump's call with his Chinese counterpart Xi Jinping, while investors awaited US payroll data.

"Some of the initial enthusiasm for risk appetite following the Trump-Xi call has started to wear off, which has enabled gold to creep higher," said Tim Waterer, chief market analyst at KCM Trade, adding, "As Trump's optimistic take masked recent weak US economic data earlier."

On why gold pric...