Domestic gold prices edged up on Friday after data showed US inflation was cooling, though not significantly enough for the Federal Reserve to slow down rate hikes. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower on Monday.

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On MCX, gold prices were up by 0.28 percent (Rs 151) to Rs 54,725 per 10 grams. Meanwhile, Silver was up by Rs 99 to Rs 69,132. This hike in metal prices came as the dollar slid by 0.08 percent to 104.040 around 11 am.

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Meanwhile, the rupee started the session on Monday on a flat note against the US dollar amid rising crude oil prices and persistent foreign capital outflows. At the interbank foreign exchange, the rupee opened at 82.79 against the dollar and lost ground to later trade at 82.83, registering a fall of 1 paisa over the last close.

Global oil benchmark Brent crude futures jumped 3.63 per cent to USD 83.92 per barrel.

On the domestic equity market front, the 30-share Sensex was trading 434.69 points or 0.73 per cent higher at 60,279.98, while the broader NSE Nifty advanced 128 points or 0.72 per cent to 17,934.80.