Gold price today, Feb. 4 -- The rates of gold and silver saw strong gains in the morning trade on the MCX on Wednesday, February 4, on strong spot demand and the dollar's weakness.

MCX gold April contracts were 4% up at Rs.1,59,801 per 10 grams around 9:15 am, while MCX silver March futures were 5.5% up at Rs.2,82,816 per kg at that time.

International gold prices also rose over 2% on Wednesday, supported by a softer dollar.

The dollar index eased on profit booking after the recent gains due to healthy US macro data and the US Fed's status quo on interest rates. A weaker dollar makes greenback-backed gold cheaper for overseas buyers.

"Gold and silver prices rebounded from their recent lows, climbing back above $5,000 and $87, respecti...