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

NEW DELHI: Precious metals gold and silver were trading flat with negative bias on Wednesday.

MCX Gold futures were trading 0.08 per cent, or Rs 26 lower at Rs 30,865 per 10 grams at 10:55 am (IST), while MCX Silver futures were down 0.02 per cent, or Rs 7, at Rs 39,695 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 828.76 tonnes, unchanged from previous business day.

Holdings of the largest silver-backed exchange-traded-fund (ETF), New York’s iShares Silver Trust SLV, stood at 9769.30 tonnes, unchanged from the previous business day.

Nirmal Bang Securities in its commodity report says, “Precious metals are trading lower on COMEX today. We expect prices to trade range bound for the day, as the dollar hovered close to an 11-month peak and equities rebounded.”

On the global front, gold prices were little changed on Wednesday