New Delhi, May 7 -- Gold prices on Multi Commodity Exchange of India (MCX) opened lower on Wednesday amid escalating tensions between India and Pakistan, and ahead of US Federal Reserve's monetary policy later today.

MCX gold rate opened lower at Rs.96,900 per 10 grams as against its previous close of Rs.97,491. At 9:05 AM, MCX gold price was trading lower by Rs.841, or 0.86%, at Rs.96,650 per 10 grams. Gold prices rallied over 3% in the previous session.

MCX silver price also opened lower and was trading down by Rs.251, or 0.26% at Rs.96,450 per kg.

Geopolitical tensions between India and Pakistan rose after the Indian Armed Forces conducted 'Operation Sindoor', carrying out precision strikes on terror infrastructure in Pakistan and P...