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Gold prices remain unchanged amid muted demand; silver marginally down

The yellow metal was trading slightly higher by Rs 3 at Rs 39,375 per 10 gram. It had closed at Rs 39,372 per 10 gram on Wednesday, as per the HDFC Securities data.

twitter-logo BusinessToday.In        Last Updated: October 10, 2019  | 18:18 IST
Gold prices remain unchanged amid muted demand; silver marginally down
Gold prices remained unchanged on Thursday amid muted spot demand.

Gold prices remained unchanged on Thursday amid muted spot demand. The yellow metal was trading slightly higher by Rs 3 at Rs 39,375 per 10 gram. It had closed at Rs 39,372 per 10 gram on Wednesday, as per the HDFC Securities data.

On the other hand, silver was trading marginally lower by Rs 24 at Rs 47,120 per kg as against its previous closing level of Rs 47,144 per kg on Wednesday.

"The two-day trade talks between the US and Chinese negotiators will start from today. Market will eye any comments or tweets regarding any development in the next two days," HDFC Securities Senior Analyst (Commodities) Tapan Patel told PTI.

Also Read: Infographic: Why gold prices are on fire

International gold prices on Thursday held firm on trade talk worries and economic growth concerns after reports that China has shortened the meeting to a single day instead of two days, he said.

"Gold prices traded steady on Thursday with COMEX International spot gold prices gaining to $1,510 amid US-China trade talk uncertainty," Patel added.

Gold prices are expected to trade higher in the near term with uncertainty over US-China trade talks, Brexit concerns and weak economic data, with COMEX gold finding support at $1,490 and resistance at $1,520, he said.

Also Read:Gold prices climb to Rs 39,325 on strong global cues

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