Gold Rate Today: Gold, silver down in morning deals

Gold and silver prices were trading in red following some profit booking at higher levels as investors will eye the outcome of US nonfarm payroll data later today.
MCX Gold futures were down 0.26 per cent at Rs 31,050 per 10 gram at around 10.45 am (IST), while MCX Silver futures were down 0.32 per cent at Rs 38,848 at around the same time.

According to SMC Global Securities, gold (Dec) can take support near Rs 31,250 and can face resistance near Rs 31,550 in MCX. While Silver (Dec) can take support near Rs 38,600 and it has resistance near Rs 39400.




Gold-backed exchange traded funds (ETFs) experienced outflows in North America European and Asian funds during September, as investors continued to show extreme short positioning, the World Gold Council said on Thursday.

Holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, dropped 0.8 per cent on Wednesday, having declined more than 4.5 million ounces since late April.