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

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

MCX Gold futures were trading 0.26 per cent, or Rs 83 lower at Rs 31,391 per 10 grams at 10:48 am (IST), while MCX Silver futures were down 0.38 per cent, or Rs 154, at Rs 40,730 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 the 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 the previous business day.

Nirmal Bang Securities in its commodity report says “Precious metals are trading lower on COMEX today. We expect prices to trade higher for the day, as US President Donald Trump’s decision to call off a meeting with North Korean leader Kim Jong Un triggered safe-haven buying.”

On the global front, gold prices eased amid a firmer dollar.