Gold Rate Today: Gold trades lower in morning deals, silver up
In days to come MCX gold may trade with upside bias all the way to 31,500-31,700 levels.
By ETMarkets.com | Updated:
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Gold prices were trading lower in morning trade on Monday following subdued demand of precious metal from jewellers, industries and retailers. MCX Gold was down 0.12 per cent at Rs 31,560 per 10 gram at around 11.15 am (IST).
“The trade war concerns between the US and China is slightly cooling down and that has lent support to the equity market,” said Ajay Kedia, director at Kedia Commodities to Reuters, adding that there is some profit booking in gold ahead of the year-end.
On the other hand, Silver was up 0.27 per cent at Rs 38,810 per 1 kg at around the same time.
“The trade war concerns between the US and China is slightly cooling down and that has lent support to the equity market,” said Ajay Kedia, director at Kedia Commodities to Reuters, adding that there is some profit booking in gold ahead of the year-end.
On the other hand, Silver was up 0.27 per cent at Rs 38,810 per 1 kg at around the same time.
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