Gold, silver trade higher in morning trade
The yellow metal was trading 0.17 per cent, or Rs 50, higher at Rs 28,819 per 10 gm around 10.30 am (IST).
By ETMarkets.com | Updated:
NEW DELHI: Gold was trading higher in morning trade on Friday amid buying by investors and jewellers.
The yellow metal was trading 0.17 per cent, or Rs 50, higher at Rs 28,819 per 10 gm around 10.30 am (IST), while silver traded 0.20 per cent, or Rs 79, higher at Rs 39,749 per kg.
“We expect the prices to remain rangebound for the day as investors seek out riskier assets, dampening demand for gold, which pays no interest,” Nirmal Bang Commodities said in a note.
Angel Broking expects gold prices to weaken on Friday continuing its recent slide as ECB president Mario Draghi continues to keep easy monetary stance, presurrising the euro and strengthening dollar index.
SPDR Gold Trust GLD, the world’s largest gold-backed exchange traded fund, said its latest holdings stood at 853.36 tonnes, down 0.89 tonnes, from previous business day.
Latest holdings of the largest silver backed exchange-traded-fund (ETF), New York’s iShares Silver Trust SLV, stood at 10,272 tonnes, remained unchanged from previous business day.
The yellow metal was trading 0.17 per cent, or Rs 50, higher at Rs 28,819 per 10 gm around 10.30 am (IST), while silver traded 0.20 per cent, or Rs 79, higher at Rs 39,749 per kg.
“We expect the prices to remain rangebound for the day as investors seek out riskier assets, dampening demand for gold, which pays no interest,” Nirmal Bang Commodities said in a note.
Angel Broking expects gold prices to weaken on Friday continuing its recent slide as ECB president Mario Draghi continues to keep easy monetary stance, presurrising the euro and strengthening dollar index.
SPDR Gold Trust GLD, the world’s largest gold-backed exchange traded fund, said its latest holdings stood at 853.36 tonnes, down 0.89 tonnes, from previous business day.
Latest holdings of the largest silver backed exchange-traded-fund (ETF), New York’s iShares Silver Trust SLV, stood at 10,272 tonnes, remained unchanged from previous business day.
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