Gold prices today flat amid mixed cues; silver rises
Silver gained while gold was trading close to the flatline as cautious traders waited for clear signals before taking a bet as equities are racing ahead on hopes of swift recovery in economic conditions but rising Covid cases are still a worry.
Gold futures were down 0.01% per 10 grams. Silver futures gained 0.25% per kg.
Globally, gold was set for a fifth straight weekly gain on Friday as worries over a spike in U.S. coronavirus cases kept the safe-haven metal near the technical $1,800-per-ounce threshold.
Spot gold was little changed at $1,801.47 per ounce by 0249 GMT, up nearly 1.5 per cent for the week. U.S. gold futures rose 0.2 per cent to $1,806.80.
Surging Covid-19 cases also boosted the dollar, making gold more expensive for holders of other currencies.
SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings slipped 0.15 per cent to 1,200.82 tonnes on Thursday.
Palladium fell 0.2 per cent to $1,938.30 per ounce, platinum declined 1 per cent to $825.09, and silver slipped 0.4 per cent to $18.60.