The festival season is not making the gold prices to to rise high in any manner. Durling earlier times the very sign of festival used to bring cheer in the minds of the jewellers as the gold and silver used to get good sales in the market.
But now in the recent times even Diwali is unable to bring in good tides for this yellow metal, excpet some marginal rise here and there.
GOLD PRICES were up by Rs 193 to Rs 29,850 per 10 gram in futures trade today as speculators created positions amid positive cues from the global market.
At the Multi Commodity Exchange, gold for delivery in February next year shot up by Rs 193, or 0.65 per cent, to Rs 29,850 per 10 gram, in a business turnover of one lot.
The metal for delivery in December was trading higher by Rs 167, or 0.56 per cent, to Rs 29,745 per 10 gram in a turnover of 372 lots.
According to analysts, a firming trend overseas where gold rebounded from the biggest weekly decline this year as investors piled into bullion-backed exchange-traded funds, lifting global holdings to the highest since 2013, and as the dollar fell for a second day, influenced the precious metal.
Meanwhile, gold rose 0.46 per cent to USD 1,263.40 an ounce in Singapore today. The market is divided and the one gram gold, apart from the ready made gold coated jewellary has made a big dent into the traditional market. The fake jewelary or the designer jewellary available on the online is a big draw these days. Ladies are surfing the net and ordering them which is for home delivery and cash on delivery. The same can be exchanged and also retruned.
