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

NEW DELHI: Gold was trading lower while silver was flat in the late morning trade on Tuesday.

MCX Gold futures were trading 0.16 per cent, or Rs 50 lower at Rs 30,607 per 10 grams at 11:20 am (IST), while MCX Silver futures were up 0.02 per cent, or Rs 8, at Rs 39,653 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 822.21 down 4.42 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 9933.22 down 29.27 tonnes, from the previous business day.

Nirmal Bang Securities in its report says, “Precious metals are trading range bound on COMEX today. We expect prices to trade range bound for the day, as the dollar held near a two-week low hit in the previous session against the yen, amid escalating trade tensions involving the United States and other major economies.”

On the global front, gold prices edged higher.