Gold, silver trade higher amid weaker dollar, geopolitical uncertainty

File Photo

Gold and silver traded higher in morning trade on Thursday, supported by a weaker dollar and geopolitical uncertainty in West Asia, as investors continued to track developments surrounding a possible diplomatic breakthrough between the US and Iran.

On the Multi Commodity Exchange (MCX), gold futures for August delivery were trading 0.35 per cent or Rs 533 higher at Rs 1,59,052 per 10 grams as of 11:28 am, reported IANS.

The yellow metal rose as much as 0.61 per cent or Rs 981 to touch an intraday high of Rs 1,59,500. It also hit an intraday low of Rs 1,58,701, up 0.11 per cent or Rs 182 from the previous close.

On the other hand, silver futures for July delivery rose up to 0.51 per cent or Rs 1,366 to touch an intraday high of Rs 2,64,324 per kg.

Gold gains, silver declines as investors seek safety

Earlier in the day, gold and silver opened on the MCX at Rs 1,59,366 per 10 grams and Rs 2,63,146 per kg, respectively.

Stock market opened in red on Thursday67

Domestic equity markets opened lower on Thursday, tracking weak global cues amid geopolitical uncertainty in West Asia and selling pressure across the US and Asian equities.

Sensex opened at 73,935.83, down 0.55 per cent or 410 points, while Nifty fell over 100 points or 0.5 per cent.

Sectoral Indices

Sectoral indices, Nifty Realty declined 0.67 per cent, Nifty IT was down 0.53 per cent. Similarly, pharma and healthcare indices decreased by up to 0.5 per cent.

In contrast, Nifty Consumer Durables, Nifty Oil and Gas, Nifty Cement and Nifty Chemicals were trading marginally higher.

(Inputs from IANS)