Gold is trading at Rs 28,182 per ten gram in futures trading as speculators widened their bets.
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 rose by Rs 40 to Rs 28,182 per ten gram in futures trading on Wednesday as speculators widened their bets.
However, prices were almost unchanged in global markets ahead of the outcome of a two-day meeting of the US Federal Reserve.
At the Multi Commodity Exchange, gold for delivery in February was trading higher by Rs 40, or 0.14 per cent, to Rs 28,182 per ten gram, in a business turnover of 85 lots.
Analysts said raising of bets by participants at current levels, mainly pushed up gold prices at futures trade here but a steady trend overseas, capped the gains.
Globally, gold was trading at USD 1,243.50 an ounce in Singapore.
( Source : PTI )
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