NEW DELHI: Precious metals gold and silver were trading in the negative territory in late morning deals on Monday.
MCX Gold futures were trading 0.10 per cent, or Rs 31 lower at Rs 30,979 per 10 grams at 11:10 am (IST), while MCX Silver futures were down 0.15 per cent, or Rs 61, at Rs 40,138per 1 kg at the same time.
SPDR Gold Trust GLD, the world’s largest gold-backed exchange-traded fund, said its holdings stood at 828.76 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 9769.30 down 55.62 tonnes, from the previous business day.
Nirmal Bang Securities in its daily commodity report says, “Precious metals are trading higher on COMEX today. We expect prices to trade range bound to higher for the day, as a trade dispute between the world’s two largest economies triggered safe-haven buying, but a strong dollar put a cap on the upside.”
On the global front, gold prices inched higher in the early trade.