Gold trades flat in morning deals; silver down

Gold was trading almost flat in early trade on Friday on account of subdued demand of the yellow metal by investors and jewellers.

MCX Gold was up 0.01 per cent at Rs 29,749 per 10 gram around 10.20 am (IST). MCX Silver was down 0.15 per cent, or Rs 60, at Rs 39,738 at around the same time.

According to Nirmal Bang Commodities, Gold prices are expected to rise if stable above Rs 29,600. “One can buy on dips with a stop loss below Rs 29480,” the brokerage house said.

“Silver prices are expected to trade positive. One can buy at Rs 40,500 per 1 kg with a stop loss below Rs 40,100. Prices are expected to test Rs 41,200,” Nirmal Bang said in a research note.

Domestic equity markets were trading in green following mixed global cues. The BSE Sensex was up 150 points, or 0.47 per cent, at 31879 around 10.45 am (IST). NSE Nifty index was up 43 points, or 0.43 per cent, up at 9960.80 at around the same time.