Gold price today, Dec. 5 -- Gold rates on the MCX erased losses and rose about half a per cent in morning trade on Friday, December 5, after the Reserve Bank of India's (RBI) monetary policy decision. The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) unanimously decided to cut the repo rate by 25 basis points to 5.25%, while maintaining a neutral stance.

The policy decision lifted gold prices, which were in the negative in early deals. MCX gold February contracts were 0.25% up at Rs.1,30,407 per 10 grams around 11 am. MCX silver March contracts were up 1.44% at Rs.1,80,700 per kg at that time.

The dollar's weakness and healthy spot demand also supported gold prices. The US dollar is near a one-month low, supporting ...