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NEW DELHI: Gold futures were trading almost flat while silver futures rose marginally in Thursday’ s session even as there remains concerns over Brexit and the US stimulus package.
In the US, Congress continued talks on additional economic stimulus, with House lawmakers voting to pass a one-week stopgap funding bill to give more time for talks. A bipartisan group of lawmakers has introduced a $908 billion measure but the two sides remained at loggerheads on Wednesday as the White House introduced its own proposal that was shot down by Democrats who said it dramatically cuts proposed unemployment benefits, Reuters reported.
In Europe, British Prime Minister Boris Johnson and the European Union‘s chief executive gave themselves until the end of the weekend to seal a new trade pact, Reuters said in another report. The estranged allies remain far apart over issues from fisheries to dispute resolution. Some $1 trillion in annual trade is at risk of facing tariffs and quotas if a deal cannot be reached before transition arrangements end on December 31, the report added.
Gold futures on MCX were down 0.10 per cent at Rs 49,255 per 10 grams. Silver futures added 0.24 per cent 63,650 per kg.
What probably kept gold prices going were reports suggesting that Covid vaccinations could begin in the US as soon as this weekend.
Holdings of the SPDR Gold Trust , the world’s largest gold-backed exchange-traded fund, stood at 1,179.78 tonnes on Thursday.