MCX Gold futures were trading 0.08 per cent, or Rs 26 higher at Rs 31,338 per 10 grams at 11:20 am (IST), while MCX Silver futures were up 0.09 per cent, or Rs 38, at Rs 40,117 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 862.95 down 1.18 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 10054.63 tonnes, remain unchanged from the previous business day.
Nirmal Bang Securities in its daily commodity report says, “Precious metals are trading flat on COMEX today. We expect prices to trade rangebound to lower for the day, as the dollar held near its 2018-peak on firm US bond yields, with investors also keeping an eye out for any further impact from US President Donald Trump’s decision to pull out of a nuclear deal with Iran.”
Globally, gold prices nudged lower as the dollar held near its 2018-peak on firm US bond yields, with investors also keeping an eye out on any further impact from US decision to scrap off Iran nuclear deal.