The yellow metal for delivery in February next year gained Rs 34, or 0.12 per cent, to Rs 29,225 per 10 gm in 2 lots.
People now prefer to purchase when gold prices fall or for special occasions. Over the last half a decade, festival sales have gone down by 4 to 5 per cent annually. (Representational image)
New Delhi: Gold prices were up by Rs 52 to Rs 29,140 per 10 grams in futures trade on Monday as speculators raised their bets amid a firm global trend.
At the Multi Commodity Exchange, gold for delivery in December was trading Higher by Rs 52, or 0.18 per cent, to Rs 29,140 per 10 grams in a business turnover of 149 lots.
The yellow metal for delivery in February next year gained Rs 34, or 0.12 per cent, to Rs 29,225 per 10 gm in 2 lots.
Market analysts attributed the rise in gold prices at futures trade to a better trend in global market where it advanced as the dollar declined, boosting demand for the metal as an alternative asset.
Meanwhile, gold was trading 0.02 per cent higher at USD 1,269.70 an ounce in Singapore.
( Source : PTI )
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