Gold Rate Today: Gold, silver shine on trade war fears

NEW DELHI: Precious metals gold and silver were trading in the green on Friday after US President Donald Trump announced long-promised tariffs on Chinese goods.

MCX Gold futures were trading 0.76 per cent, or Rs 232, higher at Rs 30,725 per 10 grams at around 11 am (IST), while MCX Silver futures were up 0.52 per cent, or Rs 200, at Rs 38,777 per 1 kg at around the same time.

SPDR Gold Trust GLD, the world’s largest gold-backed exchange-traded fund, said its holdings stood at 850.54 tonnes, remain unchanged from previous business day.

Holdings of the largest silver-backed exchange-traded-fund (ETF), New York’s iShares Silver Trust SLV, stood at 9942.90 tonnes, remain unchanged from previous business day.

On the global front, gold prices rose to a two-week high on a softer dollar as investors scurried to safety on possibility of a countinued trade stand off between US and China.