New Delhi, Jan. 16 -- Gold rates declined by about half a per cent in early deals on the MCX on Friday, January 16, morning, amid fading expectations of US Fed rate cuts and easing geopolitical tensions. MCX gold February futures were 0.48% down at Rs.1,42,434 per 10 grams around 9:05 am. MCX silver March futures were more than 2% down at Rs.2,85,676 per kg at that time.

Gold prices dropped in global markets also. U.S. gold futures for February delivery dropped by nearly half a per cent to $4,594.81.

(This is a developing story. Please check back for fresh updates.)

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