Gold Rate Today: Gold, silver down in morning trade
ETMarkets.com|
Updated: Nov 16, 2017, 11.16 AM IST
Gold and silver were trading marginally lower in morning deals on Thursday on account of subdued demand of precious metals from jewellers, industries and retailers.
MCX Gold futures were down 0.10 per cent, or Rs 30, at Rs 29,495 per 10 gram, while MCX Silver futures were down 0.13 per cent, or Rs 52, at Rs 39,659 per 1 kg at around the same time.
Angel Commodities said, “We expect gold prices to trade lower on Thursday on account of profit booking at higher levels while the implementation of tax cuts in the US and good economic data from the US will exert downside pressure.”
However, SMC Investments and Advisors said, “Bullion counter may trade with volatile path as the US industrial production along with movement of greenback to give further direction to the prices. Gold can move in range of Rs 29,400-29,650 while silver can move in range of Rs 39,500-40,000 in near term.”
Meanwhile, benchmark equity indices BSE Sensex and NSE Nifty opened in green on account of value buying by investors.
The 30-share Sensex was up 165.89 points, or 0.51 per cent, at 32,920.94 around 11 am (IST), while the 50-share Nifty was up 42.30 points, or 0.42 per cent, at 10,160.
MCX Gold futures were down 0.10 per cent, or Rs 30, at Rs 29,495 per 10 gram, while MCX Silver futures were down 0.13 per cent, or Rs 52, at Rs 39,659 per 1 kg at around the same time.
Angel Commodities said, “We expect gold prices to trade lower on Thursday on account of profit booking at higher levels while the implementation of tax cuts in the US and good economic data from the US will exert downside pressure.”
However, SMC Investments and Advisors said, “Bullion counter may trade with volatile path as the US industrial production along with movement of greenback to give further direction to the prices. Gold can move in range of Rs 29,400-29,650 while silver can move in range of Rs 39,500-40,000 in near term.”
Meanwhile, benchmark equity indices BSE Sensex and NSE Nifty opened in green on account of value buying by investors.
The 30-share Sensex was up 165.89 points, or 0.51 per cent, at 32,920.94 around 11 am (IST), while the 50-share Nifty was up 42.30 points, or 0.42 per cent, at 10,160.
