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

NEW DELHI: Gold and silver were trading in the green in morning deals on Friday.

MCX Gold futures were trading 0.09 per cent, or Rs 31 higher at Rs 31,396 per 10 grams at 10:57 am (IST), while MCX Silver futures were up 0.05 per cent, or Rs 21, at Rs 40,411 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 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 10054.63 tonnes, remain unchanged from the previous business day.

Brokerage Nirmal Bang Securities in its daily report says, “Precious metals are trading lower on COMEX today. We expect prices to trade rangebound to lower for the day, as the dollar held below its 2018 highs against a basket of currencies after softer-than-expected US inflation data.”

On the global front, gold prices were steady as the dollar held below its 2018 highs against a basket of currencies after softer-than-expected US inflation data.