Gold Rate Today: Gold prices steady amid global recession fears

NEW DELHI: Gold prices on Wednesday remained steady as recession fears heightened following weak US manufacturing data boosting the demand for safe-haven metal.

Globally, spot gold prices rose today 0.2 per cent per cent to $1,548.31 per ounce.

SPDR Gold holdings said that its holdings rose 1.34 per cent to 890.04 tonnes on Tuesday from 878.31 tonnes on Friday.




In the domestic market, MCX Gold prices gained 0.01 per cent to Rs 39,648 per 10 gram around 11:30 pm.

Silver prices jumped to all-time high of Rs 50,452 per kg today.

“The escalating trade war, Brexit worries, civil unrest in Hong Kong, weakness in the rupee and weaker than expected US manufacturing PMI numbers of August boosted safe-haven buying of the precious metals,” IndiaNivesh Research said in a note.