Gold Rate Today: Gold gains on safe-haven demand amid geopolitical concerns

Gold prices were trading higher in early trade on Monday as market participants rushed for safe-haven buying following the US-led missile strikes against Syria at the weekend.

MCX Gold futures were trading 0.38 per cent, or Rs 117, up at Rs 31,235 per 10 gram at around 10.40 am (IST). On the other hand, white metal was trading in green in early trade.

MCX Silver futures were up 0.23 per cent, or Rs 91, at Rs 39,018 per 1 kg at around the same time.

Meanwhile, latest holdings of SPDR Gold Trust, the worlds largest gold-backed exchange-traded fund, rose 0.69 per cent to 865.89 tonnes on Thursday.

Holdings rose to their highest since June 2017 and were up about 3.5 per cent so far this year.

Domestic equity markets were trading in red in morning deals amid fresh geopolitical concerns.

The 30-share index was down 64 points, or 0.19 per cent, at 34,128, whereas NSE Nifty index was down 13.20 points, or 0.15 per cent, at 10,465 at around the same time.

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