Gold Rate Today: Gold flat, silver falls in morning deals

NEW DELHI: Precious metal gold was trading flat with positive bias on Wednesday in the domestic bullion market while silver was trading in the negative zone.

MCX Gold futures were trading 0.02 per cent, or Rs 5 higher at Rs 31,113 per 10 grams at 11:13 am (IST), while MCX Silver futures were down 0.12 per cent, or Rs 47, at Rs 40,448 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 852.04 tonnes, remain unchanged from previous business day.

Holdings of the largest silver-backed exchange-traded-fund (ETF), New York’s iShares Silver Trust SLV, stood at 9984.34 tonnes, remain unchanged from previous business day.

Brokerage firm Nirmal Bang Securities in its commodity report says, “Precious metals are trading flat on COMEX today. We expect prices to trade rangebound for the day, amid a firm dollar, uncertainty over the outcome of US-China trade talks, while market awaits for minutes from the Federal Reserve’s meeting for clues on the outlook for US interest rates.

On the global front, gold prices edged higher.