Gold Rate Today: Gold climbs on spot demand, supportive global trend
Gold prices were stable in international markets hovering below the 15-week high.
Gold prices were stable in international markets hovering below the 15-week high hit in the previous session, supported by trade worries and a possible US rate cut, Reuters reported.
Negative sentiment in the domestic equity market also helped gold as investors restricted their bets in riskier equities and assessed opportunities in safe-haven assets ahead of RBI policy outcome.
Besides, a softer rupee against the US dollar also helped gold to stay up.
A weaker rupee capped the fall of the safe-haven metal. Weak rupee makes the import of gold costlier and pushes the price of the precious metal higher.
Silver prices also rose, backed by raised demand by industrial units and coin makers at spot markets.
The MCX Gold was trading at Rs 32,739 per 10 grams, up by Rs 59, while MCX Silver was trading at Rs 36,892 a kilo, up by Rs 51 around 10:50 am.