Gold, silver trade higher in morning deals

NEW DELHI: Precious metals gold and silver were trading in the green on Friday.

MCX Gold futures were trading 0.18 per cent, or Rs 52 higher at Rs 31,030 per 10 grams at 11:31 am (IST), while MCX Silver futures were up 0.09 per cent, or Rs 36, at Rs 40,145 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 856.17 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 10013.62 up 14.64 tonnes, from the previous business day.

Brokerage Nirmal Bang Securities in its commodity outlook says “Precious metals are trading flat on COMEX today. We expect prices to trade range bound for the day, as the dollar and US bond yields held firm near their recent highs.”

On the global front, gold prices were flat after hitting a fresh 2018 low overnight, as the dollar and US bond yields held firm near their recent highs.