Gold Rate Today: Gold, silver slip in morning deal

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

MCX Gold futures were trading 0.25 per cent, or Rs 76 lower at Rs 30,705 per 10 grams at 10:30 am (IST), while MCX Silver futures were down 0.16 per cent, or Rs 62, at Rs 39,564 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, 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 9842.48 up 73.81 tonnes, from the previous business day.

Brokerage Normal Bang Securities in its report says,”Precious metals are trading lower on COMEX today. We expect prices to trade range bound for the day, which hovered close to a six-month low touched in the previous session as a firm US dollar curbed gains.”

On the global front, gold prices edged up.