Commmodity Market Trading Tips-Gold Rate Today: Gold, silver trade flat in morning deals

Precious metals gold and silver were trading flat with positive bias on Wednesday amid softer US dollar.

MCX Gold futures were trading 0.07 per cent, or Rs 27, up at Rs 30,720 per 1 kg at around 11 am (IST), while MCX Silver futures were up 0.09 per cent, or Rs 36, at Rs 38,700 per 1 kg at the same time.

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GeojitBSE -2.17 % Financial Services in its commodity report said, “Weakness may establish only when gold falls below Rs 30,670.”

On silver, it said, “A major upside hindrance is placed at Rs 39,400 region. If it fails to sustain the same, the prices could be pushed down to Rs 38,650/200. However, break above Rs 39,400 may cajole fresh buying for intraday.

On the global front, gold prices edged higher buoyed by a softer dollar, a day after the yellow metal recorded its biggest one-day percentage fall in nearly two weeks as US-China trade spat concerns eased.

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