MCX Gold futures were trading 0.01 per cent, or Rs 4 higher at Rs 30,550 per 10 grams at 11:03 am (IST), while MCX Silver futures were up 0.13 per cent, or Rs 54, at Rs 39,483 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 836.42 down 10.61 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 10016.55 tonnes, remain unchanged from the previous business day.
Brokerage Nirmal Bang Securities in its daily report says, “Precious metals are trading lower on COMEX today. We expect prices to trade range bound to range bound for the day, as expectations of an interest rate hike this month offset support from worries about a trade war.”
On the global front, gold prices steadied early on Monday, after falling to the lowest in more than a week in the previous session, as expectations of an interest rate hike this month offset support from worries about a trade war.