Gold Rate Today: Gold prices decline on weak global cues, lower spot demand
Silver prices also declined on reduced order by coin makers and industrial units.
NEW DELHI: Gold prices fell in futures trade on Monday, taking cues from the global markets.
The safe-haven asset fell to a more than one-week low in the global markets as stronger Chinese export data and a strong start to the US earnings season rekindled investor appetite for riskier equities.
Besides, lower demand at the spot market also dented the yellow metal.
Silver prices also declined on reduced order by coin makers and industrial units.
The MCX Gold was trading at Rs 31,770 per 10 grams, lower by Rs 92 while MCX Silver was trading down by Rs 169 at Rs 37,051 a kilo around 11 am.
As per brokerage Motilal Oswal Securities, gold is likely to trade sideways to negative for the day. The brokerage advised selling on the rise at higher levels for the session.
The safe-haven asset fell to a more than one-week low in the global markets as stronger Chinese export data and a strong start to the US earnings season rekindled investor appetite for riskier equities.
Besides, lower demand at the spot market also dented the yellow metal.
Silver prices also declined on reduced order by coin makers and industrial units.
The MCX Gold was trading at Rs 31,770 per 10 grams, lower by Rs 92 while MCX Silver was trading down by Rs 169 at Rs 37,051 a kilo around 11 am.
As per brokerage Motilal Oswal Securities, gold is likely to trade sideways to negative for the day. The brokerage advised selling on the rise at higher levels for the session.
