Precious metals gold and silver were trading higher in the morning deals as trade war fears resurfaced after US President Donald Trump on Thursday upped the ante by asking officials to consider $100 billion in additional tariffs against China.
MCX Gold futures were trading 0.41 per cent, or Rs 124 higher at Rs 30,671 per 10 grams at 11 am (IST), while MCX Silver futures were up 0.07 per cent, or Rs 27, at Rs 38,253 per 1 kg at the same time.
Gold prices are expected to hold Rs 30,400. “One can buy with a stop loss below Rs 30,370. Prices could test Rs 30,700 on the higher end,” said Nirmal Bang Research in its daily commodity report.
Silver prices are likely to trade sideways from Rs 37,900 – Rs 38,700. One can trade within the range, it said.
On the global front, gold prices rose as investors sought safer assets on escalating trade spat between the United States and China.
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