Gold rate today: Bullion steady amid Trump impeachment

NEW DELHI: Bullion counters were steady in early trade on Thursday amid Trump impeachment proceedings and lack of clarity on the content of the US-China trade deal.

Donald Trump became the third US President to be impeached as the House formally charged him with abuse of power and obstruction of the Congress in a historic step that will inflame partisan tensions across a deeply divided America. MCX Gold (Feb) futures were up 0.05 per cent to Rs 37,930 per 10 grams and MCX Silver (Mar) futures were up 0.12 per cent to Rs 44,502 per kg.

Brokerage SMC Global said the bullion counters may trade sideways to upward. Gold can recover towards Rs 38,100 while taking support near Rs 37,800 and silver can recover towards Rs 44,800 while taking support near Rs 44,300, it added.




In the US markets, gold prices inched up after the US House of Representatives voted to impeach President Donald Trump on articles of abuse of power and obstruction of the Congress. Spot gold was up 0.1 per cent at $1,477.15 per ounce, as of 0152 GMT. US gold futures were up 0.2 per cent at $1,481.30 per ounce, reported Reuters.

Palladium edged up 0.1 per cent to $1,924.97 per ounce. The metal prices had hit an all-time peak of $1,998.43 on Tuesday. Palladium prices are close to breaking above $2,000 an ounce for the first time, with a gaping supply deficit fuelling a remarkable run that has seen the autocatalyst metal more than quadruple in value since 2016.

Silver rose 0.2 per cent to $17.03 per ounce, while platinum fell 0.2 per cent to $933.34.