Gold prices stayed weak amid a stronger US dollar and global market caution. Spot gold hovered around $3,940 per ounce, while MCX December futures fell 0.43 per cent to Rs 1,20,886 per 10 grams. Experts expect a rebound later this year.

New Delhi: Gold prices remained under pressure on Wednesday after witnessing their sharpest decline in over a week, as investors weighed the recent strength of the US dollar against a broader risk-off sentiment across global markets.

Spot gold hovered around $3,940 per ounce after sliding nearly 2 per cent in the previous session, following five straight days of gains in the dollar index.

Global equities also extended their decline, marking their steepest fall in almost a month amid concerns about stretched valuations.

Most other commodities followed s

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