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

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

MCX Gold futures were trading 0.32 per cent, or Rs 101 lower at Rs 31,110 per 10 grams at 11:03 am (IST), while MCX Silver futures were down 0.21 per cent, or Rs 83, at Rs 38,921 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 871.20 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 9856.67 tonnes, remain unchanged from the previous business day.

On the global front, gold prices inched higher as the US dollar steadied after a recent run of gains, weighed down by a decline in the benchmark US 10-year Treasury yield.