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

NEW DELHI: Gold and silver were trading flat with negative bias in the morning deals on Tuesday.

MCX Gold futures were trading 0.05 per cent, or Rs 15 lower at Rs 30,670 per 10 grams at 11:02 am (IST), while MCX Silver futures were down 0.05 per cent, or Rs 21, at Rs 39,555 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 10032.78 up 16.23 tonnes, from the previous business day.

Nirmal Bang Securities in its daily report says, “Precious metals are trading flat on COMEX today. We expect prices to trade range bound for the day, as the dollar rose to a near two-week high against the yen after strong US economic data sparked expectations of more US interest rate hikes.”

On the global front, gold prices held steady.