Gold Rate Today: Gold, silver trade lower on slump in demand

NEW DELHI: Bullion counter was suffering losses in futures trade on Thursday, dragged by lower demand from local jewellers at the spot market despite firming global trend.

Gold prices rose in global markets as the dollar declined due to concerns the prolonged US government shutdown will limit economic growth at the same global growth is slowing as well, Reuters reported.

The MCX Gold was trading at Rs 32,092 per 10 grams, down by Rs 48, while MCX Silver was trading Rs 79 lower at Rs 39,020 a kilo around 10:45 am.



As per brokerage Motilal Oswal Securities, MCX Gold has key support at Rs 31,970-31,900. The upside, if any, will be capped around Rs 32,270-32,350.

For MCX Silver, there is support at Rs 38,900-38,770 and resistance is at Rs 39,280-39,400, the brokerage said.