Gold prices edged lower on Friday as expectations of an interest rate cut by the US Federal Reserve in December weakened following the delayed release of the US jobs report. A firmer dollar and subdued global sentiment further contributed to the downward trend in precious metal rates across major domestic and international markets.

In Mumbai, 24-carat gold was quoted at Rs 1,24,250 per 10 grams, while 22-carat gold was priced at Rs 1,13,890 per 10 grams. These rates exclude GST and making charges. Silver, meanwhile, traded at Rs 1,64,900 per kilogram in the spot market.