Gold rate today trade flat at Rs 48,500 per 10 gram

NEW DELHI: Gold and silver futures were trading marginally below the flatline in the morning trade on Friday as investors were divided between the optimism over vaccine development and rising Covid cases.

Meanwhile, AstraZeneca is facing tricky questions about its success rate that could hinder its chances of getting speedy US and EU regulatory approval, prompting Asian shares to fall slightly.

Gold futures on MCX were down 0.04 per cent or Rs 21 at Rs 48,496 per 10 grams. Silver futures dipped 0.43 per cent or Rs 256 to Rs 59,617 per kg.

In the spot market, gold prices rose marginally by Rs 17 to Rs 48,257 per 10 gram in the national capital on Thursday, according to HDFC Securities. Silver prices also gained Rs 28 to Rs 59,513 per kilogram.

Globally, gold prices steadied on Friday as investors took stock of doubts raised over the efficacy of a vaccine, but the precious metal was set for a third week of declines.

Spot gold was little changed at $ 1,810.75 per ounce by 0118 GMT. U.S. gold futures rose 0.2 per cent to $ 1,809.80 per ounce.

Gold was down over 3 per cent for the week as progress in COVID-19 vaccine development and US President-elect Joe Biden’s transition to the White House bolstered risk sentiment.

Silver fell 0.9 per cent to $ 23.25 per ounce, while Platinum fell 0.1 per cent to $ 961.18 and palladium was up 0.3 per cent at $ 2,391.19.