Gold Rate Today: Gold, silver trade higher in the morning trade

NEW DELHI: Precious metals gold and silver were trading in the positive territory on Wednesday.

MCX Gold futures were trading 0.43 per cent, or Rs 131, higher at Rs 30,765 per 10 grams at 11 am (IST), while MCX Silver futures were up 0.07 per cent, or Rs 25, at Rs 38,442 per 1 kg at the same time.

On the global front, gold prices were steady in early Asian trade on Wednesday as the dollar eased amid escalating trade tensions between the United States and China.

According to an industry report, gold demand will change little this year from 2017 levels as slim gains in physical investment and jewellery and industrial demand are partially offset by a drop in central bank buying to its lowest since 2010.

Global gold demand is seen at 3,969 tonnes in 2018, up 1 per cent from last year’s levels but some 10 per cent below the average for the last five years, consultancy Metals Focus said on Wednesday in its Gold Focus 2018 report.