Gold Rate Today: Gold\, silver trade lower in morning trade

NEW DELHI: Bullion lost its shine in Tuesday's session, hit by low demand for precious metals by local jewellers despite a firm trend overseas.

However, gold prices edged higher on Tuesday as the dollar slipped after the previous session's rally on hopes that the US Federal Reserve could pause its rate hike cycle sooner than expected, Reuters reported.

Around 10:40 am, the MCX Gold was trading at Rs 31,955 per 10 grams, lower by Rs 73. MCX Silver was trading at Rs 38,350 per kilo, lower by Rs 19 at that time.

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

DateGold Spot Price
Rs/10 grms (Ahmedabad)		Gold Future Price
Rs/10 grms Expiry: 05-Feb-2019
11-12-201831616.031935.0
10-12-201831423.032043.0
07-12-201831050.031551.0
06-12-201830987.031090.0
05-12-201830855.031084.0
04-12-201830945.031124.0
03-12-201830664.030890.0
30-11-201830240.030253.0
29-11-201830360.030359.0
28-11-201830394.030655.0
27-11-201830673.030622.0
26-11-201830705.030765.0
23-11-20180.030715.0
22-11-201830834.030835.0
21-11-201830862.031074.0


Low demand from local jewellers dented gold in the futures market, while the silver prices saw a fall on slightly reduced orders from industrial units and coin makers.

Brokerage Motilal Oswal Securities advised buying on dips in gold while targeting a higher resistance at Rs 32,120-32,310.

For, MCX Silver, a key support is at Rs 38,020, while it has a resistance at Rs 38,750, as per the brokerage.