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

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

MCX Gold futures were trading 0.14 per cent, or Rs 45 higher at Rs 31,080 per 10 grams at 11:01 am (IST), while MCX Silver futures were up 0.15 per cent, or Rs 61, at Rs 40,105 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 851.45 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 10,016.55 up 64.42 tonnes, from the previous business day.

Nirmal Bang Securities in its report says, “Precious metals are trading flat on COMEX today. We expect prices to trade rangebound to higher for the day, as the dollar eased from 6.5 month highs hit earlier this week on a weaker-than-expected US economic data, with prices further supported by concerns about the trade war.”

On the global front, gold prices edged up as the dollar eased from 6.5 month highs hit earlier this week on a weaker-than-expected US economic data, with prices further supported by concerns about the trade war.