Gold Rate Today: Gold lacklustre on rise in equities, low spot demand

NEW DELHI: Gold lost shine in futures trade on Wednesday as positive sentiment in the equity market dented the appeal of safe-haven metal.

Weak global cues, low demand by jewellers at the spot market and an uptick in rupee's value against the US dollar also weighed on the yellow metal.



Gold edged lower in international markets to hover near a two-week low, as a stronger dollar and signs of easing Sino-US friction dented demand for bullion ahead of the minutes from US Federal Reserve's latest meeting, Reuters reported.

On the other hand, silver traded in the green in futures trade after raised demand by industrial units and coin makers.

The MCX Gold was trading at Rs 31,410 per 10 grams, lower by Rs 6, while MCX Silver was trading at Rs 36,280 a kilo, up by Rs 34 around 10:35 am.