Gold News

Gold Prices remain firm ahead of Indian festival

Gold Prices have remained firm between last year's and this year's Akshaya Tritiya festival, a trend which bodes well for buyers, it has been claimed.

That is the opinion of Ajay Mitra, managing director at the World Gold Council, who says that the steadiness of Gold Prices over the past year will encourage people to buy the precious metal at the festival renowned for its sale.

He told the Hindu Business Line: "Prices have remained firm since the past festive season which gives all the more confidence for consumers to go ahead with their gold purchases especially during next week's Akshaya Tritiya festival."

Meanwhile, Simon Denham at spread betting providers Capital Spreads, reveals that prices for the precious metal could soon be better than steady if, as he expects, they rise.

He told the Economy News: "Gold Prices are pushing for highs once again … at $1,210 and a break above here must surely have the high of 2009 at $1,226 as its initial target level."

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