Gold rate today: Gold, silver down in early trade

NEW DELHI: Gold and silver were trading marginally in red in morning deals on Monday on account of subdued demand for precious metals from jewellers, industries and retailers.

MCX Gold futures were trading 0.03 per cent down at Rs 29,209 at around 10.50 am (IST), while MCX Silver futures were down 0.13 per cent at Rs 39,201 per 1 kg at around the same time.

According to SMC Investments and Advisors, bullion counter may trade on volatile path on Monday as movement of greenback and geopolitical tensions to give further direction to the prices.

On domestic bourses movement of local currency can give further direction to the prices.



“Gold can move in range of Rs 29,100-29,400 while silver can move in range of Rs 39,100-39,400 in near term,” SMC said in a report.

Benchmark equity indices hit record highs in Monday’s trade. The BSE Sensex soared to 34,367.22 and the NSE Nifty crossed the 10,600 level for the first time following robust gains in pharma, IT and banking stocks amid optimism over quarterly earnings by corporates.