Gold rate today: Gold trades flat in morning deals; should you invest?
ETMarkets.com|
Updated: Dec 12, 2017, 11.06 AM IST
NEW DELHI: Precious metal gold was trading on a flat note with a positive bias on Tuesday ahead of the start of a two-day US Federal Reserve meeting.
MCX Gold futures were up 0.01 per cent at Rs 28,350 at around 10.35 am (IST). On the other hand, MCX Silver futures were trading 0.12 per cent up at Rs 36,976 at around the same time.
According to SMC Investments and Advisors, bullion counter may trade with the sideways path as the US PPI data along with the movement of the greenback to give further direction to the prices.
Meanwhile, the movement of local currency rupee will give further direction to the prices.
“Gold can move in the range of Rs 28,200-28,500 while silver can move in the range of Rs 36,600-37,400 in near term,” said SMC Investments and Advisors.
Benchmark equity indices were trading in red following global cues. The BSE Sensex was down 125 points, or 0.37 per cent, at 33,330 at around 10.45 am (IST), while NSE Nifty index was down 46 points, or 0.45 per cent, at 10,275 at around the same time.
MCX Gold futures were up 0.01 per cent at Rs 28,350 at around 10.35 am (IST). On the other hand, MCX Silver futures were trading 0.12 per cent up at Rs 36,976 at around the same time.
According to SMC Investments and Advisors, bullion counter may trade with the sideways path as the US PPI data along with the movement of the greenback to give further direction to the prices.
Meanwhile, the movement of local currency rupee will give further direction to the prices.
“Gold can move in the range of Rs 28,200-28,500 while silver can move in the range of Rs 36,600-37,400 in near term,” said SMC Investments and Advisors.
Benchmark equity indices were trading in red following global cues. The BSE Sensex was down 125 points, or 0.37 per cent, at 33,330 at around 10.45 am (IST), while NSE Nifty index was down 46 points, or 0.45 per cent, at 10,275 at around the same time.
