Gold Rate Today: Gold, silver fall on muted spot demand

Staff reporter, New Delhi
22/02/2019   0 Comments

Gold prices fell in futures trade on Friday dragged by muted demand at the spot market. Silver also fell on reduced orders from industrial units and coin makers. In global markets, gold prices inched up but the gains were capped on signs that the US Fed may raise interest rates again. The precious metal had hit a 10-month high on Thursday but later erased the gains. Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.63 per cent to 789.51 tonnes on Thursday, Reuters said. The MCX Gold was trading at Rs 33,390 per 10 grams, down by Rs 59, while MCX Silver was trading Rs 94 lower at Rs 40,070 a kilo around 11 am. As per the brokerage Motilal Oswal Securities, MCX Gold may see a sideways-to-negative trade today. The commodity has intraday resistance at Rs 33,570-33,700 whereas support is placed at Rs 33,250-33,115. 


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