Gold Rate Today: Gold unchanged, silver drops in morning trade

NEW DELHI: Gold remained unchanged in the late morning deals on Friday while silver was deep in the red.

MCX Gold futures were trading unchanged Rs 29,480 per 10 grams at 10:24 am (IST), while MCX Silver futures were down 0.26 per cent, or Rs 99, at Rs 37,857 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 796.96 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 10242.13 down 4.38 tonnes, from the previous business day.

“We expect prices to trade rangebound to lower for the day, having hit a one-year low in the previous session on a resilient US dollar,” said Nirmal Bang Securities in its daily commodity report.

On the global front, gold prices were little changed in the early trade.