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

NEW DELHI: Precious metals gold and silver were trading in the green in the morning trade on Tuesday.

MCX Gold futures were trading 0.29 per cent, or Rs 89 higher at Rs 31,052 per 10 grams at 11:18 am (IST), while MCX Silver futures were up 0.41 per cent, or Rs 162, at Rs 40,079 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 848.50 down 3.54 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 9952.13 tonnes, remain unchanged from the previous business day.

Nirmal Bang Securities in daily commodity report says, “Precious metals are trading lower on COMEX today. We expect prices to trade lower for the day, after falling for the two previous sessions, but remained under pressure on hopes a US-North Korean summit was back on track and as the US dollar hovered near 6.5-month peaks.”

On the global front, gold prices inched up.