Gold Trades Low in Fresh Trade; Buy Silver On Dips
Gold prices on the Multi Commodity Exchange were trading on a flat note with negative bias on Wednesday following subdued demand for the precious metal from jewellers, investors and retailers.The yellow metal was trading 0.01 per cent down at Rs 28,860 per 10 gram around 10.30 am (IST).Nirmal Bang Commodities said, “We expect prices to trade range bound for the day, with appetite for risk easing ahead of a meeting this week between the leaders of the United States and and China.” SPDR Gold Trust GLD, the world’s largest gold-backed exchange-traded fund, said its latest holdings stood at 836.77 tonnes, remain unchanged from previous business day.On the other hand, silver was down 0.24 per cent, or Rs 102, at Rs 42,468 per 1 kg around the same time.For Wednesday’s movement, Way2Wealth Brokers in a research note said, “For the day we recommend buying on dips for targets of Rs 43,000 and higher.”
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BENGALURU, FEB 27:
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