Gold price today, May 16 -- Gold rates traded lower in the domestic futures market Friday morning as the dollar's volatility against its peers and fading trade war risks continued to weigh on demand for the safe-haven asset. MCX Gold June 5 contracts traded 0.41 per cent lower at Rs.92790 per 10 grams around 9:15 AM.

International gold prices, as Reuters reported, were poised for their steepest weekly decline in six months.

Gold prices have seen profit booking this month after the US announced trade deals with the UK and China and signalled it could seal deals with several other key trading partners in the days to come.

Apart from easing trade war worries, weakening expectations of rate cuts by the US Federal Reserve is also pressurisi...