Gold trades lower in morning trade; should you invest?
NEW DELHI: Gold and silver prices on the Multi Commodity Exchange (MCX) were trading lower in morning deals on Thursday on account of subdued demand of precious metals from investors, retailers and industries.
The yellow metal was trading 0.02 per cent down at Rs 28,698 per 10 gram around 10.35 am (IST), while the white metal was down 0.13 per cent at Rs 42,226 per 1 kg.
Nirmal Bang Commodities in a note said, “We expect gold prices to trade range bound for the day, supported by uncertainties on the impact of Britain's departure from the European Union, US policy under President Donald Trump and French elections, but at the same time capped by a stronger dollar.”
SPDR Gold Trust GLD, the world's largest gold-backed exchange-traded fund, said its latest holdings stood at 833.51 tonnes, remaining unchanged from previous business day.
The yellow metal was trading 0.02 per cent down at Rs 28,698 per 10 gram around 10.35 am (IST), while the white metal was down 0.13 per cent at Rs 42,226 per 1 kg.
Nirmal Bang Commodities in a note said, “We expect gold prices to trade range bound for the day, supported by uncertainties on the impact of Britain's departure from the European Union, US policy under President Donald Trump and French elections, but at the same time capped by a stronger dollar.”
SPDR Gold Trust GLD, the world's largest gold-backed exchange-traded fund, said its latest holdings stood at 833.51 tonnes, remaining unchanged from previous business day.
