Gold Rate Today: Gold pushes higher in morning trade; silver steady

Gold prices ruled higher in morning trade on Tuesday, aided by buying by jewellers, investors and retailers.

MCX gold futures were up 0.13 per cent, or Rs 38, at Rs 29,872 per 10 grams at around 11.20 am (IST) while MCX silver futures were almost flat at Rs 38,975 at around the same time.

Brokerage firm SMC Investments and Advisors believes that the bullion counter may trade with sideways to positive as movement of the greenback after the resolution of the US government shutdown will give further direction to the prices.




“Gold can move in the range of Rs 29,600-30,000 while silver can move in range of Rs 38,600-39,200 in the near term,” SMC said.

Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose over 2 per cent last week, their best weekly show since September 3.

Meanwhile, domestic equity markets scaled fresh record high in early trade. The benchmark BSE Sensex today went past the 36,000 level for the first time while the Nifty hit another record high of 11,045.60 in late morning trade on the back of widespread gains in IT, financials, FMCG and metal stocks.

The Sensex breached the historic 36,000 level by surging 253.85 points, 0.70 per cent, to hit yet another record high of 36,051.86 in late morning deals.