MCX Gold futures were trading 0.04 per cent, or Rs 12 higher at Rs 31,014 per 10 grams at 11:21 am (IST), while MCX Silver futures were up 0.07 per cent, or Rs 26, at Rs 38,694 per 1 kg at the same time.
SPDR Gold Trust GLD, the world’s largest gold-backed exchange-traded fund, said its holdings stood at 856.89 up 5.90 tonnes, from the previous business day.
Holdings of the largest silver-backed exchange-traded-fund(ETF), New York’s iShares Silver Trust SLV, stood at 9959.22 tonnes, remain unchanged from the previous business day.
Nirmal Bang Securities in its fundamental outlook says, “Precious metals are trading higher on COMEX today. We expect prices to trade higher for the day, supported by tensions over Syria.”
On the global front too, gold edged up on Friday after posting its biggest percentage fall in over two weeks in the previous session and was set to post a small gain for the second week running.