Gold is trading at Rs 29,718 per ten gram as speculators engaged in raising their bets even as metal weakened overseas.
Diwali is traditionally a time to indulge the Indian love of gold, but things have changed, according to Vikram Kabra, a gold jewellery dealer in the city. He says that sales of gold and silver are not encouraging this festive season. (Representational image)
New Delhi: Gold prices rose by Rs 71 to Rs 29,718 per ten gram in futures trade on Wednesday as speculators engaged in raising their bets even as the metal weakened overseas.
At the Multi Commodity Exchange, gold for delivery in far-month February next year was trading higher by Rs 71 or 0.24 per cent to Rs 29,718 per ten gram in a business turnover of 1 lot.
The yellow metal for delivery in December too gained Rs 67 or 0.23 per cent to Rs 29,665 per ten gram in 366 lots.
Market analysts attributed the rise in gold prices at futures trade to raising of bets by participants but a weak trend overseas capped the gains.
Meanwhile, gold was trading a shade lower by 0.05 per cent at USD 1,284.20 an ounce in Singapore.
( Source : PTI )
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