Gold, silver down in morning trade

Gold prices were trading in red in morning trade on Tuesday on account of weak trend overseas and subdued demand from local jewellers. gold-silver-b-27-8-2013

MCX Gold was down 0.31 %, or Rs 94, at Rs 29,839 per 10 gram around 10.35 am (IST), whereas MCX Silver was down 0.33 %, or Rs 134, at Rs 41,030 per 1 kg.

Latest holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.3 % to 834.50 tonnes till September 8.

Holdings of the largest silver-backed exchange-traded-fund (ETF), New York’s iShares Silver Trust SLV, stood at 10,173.58 tonnes, remain unchanged from previous business day.

Benchmark equity indices were trading firm following global cues. The BSE Sensex was up 166 points, or 0.52 per cent, at 32,048 around 10.50 am (IST), while NSE Nifty index was up 45 points, or 0.45 per cent, at 10,050.

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