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Gold Rate Today: Gold, silver down on profit-booking

MCX Gold was down 0.23 per cent at Rs 37,888 per 10 gram.|
Sep 12, 2019, 11.07 AM IST

Commodity Summary

Gold prices were trading lower in the morning trade on Thursday on account of profit booking by investors. Moreover, ease in US-China trade tensions lifted risk appetite in the global as well as domestic markets.

MCX Gold was down 0.23 per cent at Rs 37,888 per 10 gram at around 10.45 am. The white metal silver was trading 0.21 per cent down at Rs 47,400 per 1 kg.

According to SMC Global Securities, bullion counter may trade with weak bias as equities gained on improving risk sentiment buoyed by signs of gradual de-escalation in US-China trade tensions.

Global investors are also eyeing for European Central Bank’s meeting for cues on monetary policy easing.

Gold Rates - Spot & Futures (.995 purity) (MCX)

DateGold Spot Price
Rs/10 grms (AHMEDABAD)
Gold Future Price
Rs/10 grms Expiry: 05-Dec-2019

US President Donald Trump on Wednesday welcomed China's decision to exempt some US anti-cancer drugs and other goods from its tariffs and announced a delay to the scheduled tariff hikes on billions worth of Chinese goods.

“Gold (Oct) can dip lower towards Rs 37,600 while taking resistance near Rs 38,200 while silver (Dec) can dip towards Rs 47,000 while taking resistance near Rs 47,700,” SMC said.

On the other hand, domestic equity markets were trading higher in the morning trade following firm global cues. The BSE Sensex advanced over 100 points following gains in banking, metal and energy stocks, ahead of key macroeconomic data releases.

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