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Gold Rate Today: Gold, silver edge higher on strong demand & firm global cues

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NEW DELHI: Bullion was trading with strong gains in the MCX owing to robust demand at the domestic spot market by local jewellers and supportive global cues.

Healthy orders from industrial units and coin makers lifted silver prices.

Gold prices rose on Monday in global markets as the dollar fell on expectations that the US Federal Reserve will not raise rates this year and as Asian markets dropped after lacklustre China data reflected a slowdown in the world’s second-largest economy, Reuters reported.

The MCX Gold was trading at Rs 32,085 per 10 grams, up by Rs 157, while MCX Silver was trading Rs 83 higher at Rs 39,419 a kilo around 10:55 am.

Brokerage SMC Global expects bullion counter to trade with an upside bias today.

Source: Economic Times