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

NEW DELHI: Precious metals gold and silver were trading mixed in the late morning deals on Wednesday.

MCX Gold futures were trading 0.04 per cent, or Rs 11 higher at Rs 30,565 per 10 grams at 11:22 am (IST), while MCX Silver futures were down 0.19 per cent, or Rs 75, at Rs 39,565 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 824.63 up 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 tonnes, remain 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 rangebound to lower for the day, as the dollar firmed amid easing risk aversion and expectations of further interest rate hikes by the US Federal Reserve.”

On the global front, gold prices sat near a more than six-month high low in the previous session.