Gold prices higher on festive demand

Gold prices higher on festive demand

Mumbai: India’s gold prices rose on Thursday as traders continued to replenish stocks to meet festival demand as domestic prices stayed around Rs15,000 levels, dealers said.

“I think buying may continue as long as prices remain between Rs15,000 and Rs15,200 levels," said a dealer with a private bank in Mumbai.

India’s festival season is underway and gold traders are hopeful of a rebound in demand.

The world’s largest consumer of gold celebrates Janmasthami and Ganesh Chaturthi this month.