Gold Rate Today: Gold, silver fall on muted demand, weak global trend

NEW DELHI: Gold and silver prices declined in futures trade on Monday, hit by a slump in demand from local jewellers and coin makers at the spot market and subdued global cues.

Gold prices slipped on Monday in global markets as well as risk aversion waned with the progress in US-China trade talks, while a firm dollar kept the bullion under pressure, Reuters reported.

A strong dollar means gold price will depreciate as the commodity becomes dearer in other currencies, causing a fall in its demand.

Silver price fell on reduced orders from industrial units and coin makers.

Around 11:10 am, MCX Gold was trading at Rs 33,406 per 10 gram, down 0.03 per cent. MCX Silver was 0.34 per cent down at Rs 40,575 per kilo at that time.