Gold Edges Marginally Higher In Trade

Gold prices moved higher in trade, even as speculation of the US Federal Reserve hiking interest rates gathered steam.

Spot gold in the international markets were trading higher by 0.10 per cent at $1265 an ounce, marginally higher than where rates were in the last couple of days. US gold Futures were also trading steady at $1266 an ounce.

The trend has been more steady, in the past few days, in line with the global markets.
In the spot market in Mumbai gold for 10 grams was trading at Rs 29,600, while gold for 24 karats was trading at Rs 31,300 per 10 grams.

Jewellers in the city said that the momentum of brisk sale ahead of the festive season has not yet begun. There are hopes that this festive season the demand for gold and gold ornaments would be good, given that there have been pay hikes to government employees and in general the liquidity has been better.

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