Gold pries edged up by Rs 46 to Rs 30,593 per 10 grams at the futures market on Tuesday as participants widened their bets even as metal weakened overseas.
Gold pries edged up by Rs 46 to Rs 30,593 per 10 grams at the futures market on Tuesday as participants widened their bets even as metal weakened overseas.
At the Multi Commodity Exchange, gold to be delivered in December up by Rs 46, or 0.15 per cent to trade at Rs 30,593 per 10 grams in a business turnover of 89 lots.
According to analysts, raising of bets by speculators at current levels mainly pushed up gold prices at futures trade here but a subdued trend overseas, limited the gains.
Gold demand in India, the second biggest gold consumer after China, usually picks up towards the end of the year going into the wedding and festival season. Traders expect the recent fall in domestic gold prices to perk up demand.
In global markets, gold prices remained steady today as investors looked to the G20 meeting this week for signs of a thaw in the China-US trade conflict. Spot gold prices inched 0.1% higher to $1,223.31 per ounce while US gold futures were up about 0.1% at $1,223.8 per ounce.
Meanwhile, globally, gold traded lower at USD 1,222.74 an ounce and silver was at USD 14.27 an ounce in New York on Friday.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity drifted down by Rs 200 each to Rs 31,750 and Rs 31,600 per 10 grams, respectively. The precious metal had lost Rs 90 on Friday.
Sovereign too fell by Rs 100 to end at Rs 24,700 per piece of eight grams.
In line with gold, silver ready dropped by Rs 500 to Rs 37,300 per kg and weekly-based delivery shed Rs 486 to reach Rs 36,100 per kg.
Silver coins, however, continued to be traded at the previous level of Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.
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 "Gold up by Rs 46 in futures trade on steady demand")
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