Gold Rate Today: Gold, silver slump on lower demand

Gold prices fell at the domestic futures market Thursday on slackened demand from local jewellers and retailers in the spot market.

Around 11:20 am, MCX Gold was trading at Rs 30,321 per 10 grams, down by Rs 113 or 0.37 per cent. MCX Silver was trading at Rs 35,931 a kilo, down by Rs 193, or 0.53 per cent.

Fall in demand from local jewellers and retailers at the domestic spot market and a weak trend overseas weighed on the precious metal prices.

“MCX Gold is expected to quote in the range of Rs 30,300 to Rs 30,650 today,” Motilal OswalNSE -0.47 % Securities said.

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