Gold Rate Today: Gold prices jump on weakness in equities, rupee's fall

NEW DELHI: Gold prices jumped in futures trade on Monday as investors turned towards safe-haven metal due to a sharp fall in equities.

Equity benchmark indices Sensex and Nifty took a beating as hopes of a US-China trade deal were dashed by US President Donald Trump’s fresh threat to China on likely tariff hikes.

Rupee's weakness against the US dollar, positive global cues and a rise in demand by local jewellers at the spot market gave a leg up to the yellow metal's prices.

In the global markets, gold prices climbed after the US President Donald Trump threatened to raise tariffs on Chinese goods, escalating Sino-US trade tensions, which prompted risk-off sentiment and boosted safe-haven assets, Reuters reported.

Silver prices, however, declined due to reduced order by coin makers and industrial units.

The MCX Gold was trading at Rs 31,595 per 10 grams, up by Rs 148, while MCX Silver was trading at Rs 37,312 a kilo, down by Rs 79 around 11:15 am.