Gold is trading at Rs 29,286 per 10 grams in futures trade as participants created fresh positions.
After gaining about 13 per cent in 2017 till date, the prices of gold is expected to witness some correction in the coming months due to the likelihood of an interest rate hike by the US Federal Reserve in December.
New Delhi: Gold prices rose 0.22 per cent to Rs 29,286 per 10 grams in futures trade as participants created fresh positions, tracking a firm trend overseas.
At the Multi Commodity Exchange, gold for delivery in December rose by Rs 65 -- or 0.22 per cent -- to Rs 29,286 per 10 grams in a business turnover of 129 lots.
Analysts said fresh positions created by traders were in line with a firm global trend after the US Federal Reserve left interest rates unchanged.
Investors waited for an announcement on a new chair for the central bank.
Globally, gold rose 0.42 per cent to USD 1,279.60 an ounce in Singapore.
( Source : PTI )
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