Gold Rate Today: Gold, silver trade in the red in morning deals

NEW DELHI: Precious metals gold and silver were trading in the red in the morning deals on Friday.

MCX Gold futures were trading 0.52 per cent, or Rs 165 lower at Rs 31,433 per 10 grams at 11:31 am (IST), while MCX Silver futures were down 0.59 per cent, or Rs 238, at Rs 40,397 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 865.89 tonnes, remain unchanged from the previous business day.

Holdings of the largest silver-backed exchange-traded-fund(ETF), New York’s iShares Silver Trust SLV, stood at 9885.97 down 73.25 tonnes, from the previous business day.

On the global front, gold prices edged down as global political tensions eased, but expectations for rising inflation supported demand for the safe-haven asset.