Gold rose on Wednesday as 'risk on' sentiment took a backseat, with investors booking profits in the dollar and bracing for the outcome of an OPEC meeting later in the day aimed at curbing crude output.

                        Spot gold rose 0.4 % at $1,192.74 an ounce by 0233 GMT.Spot gold was down 0.5 %at USD 1,187.4 an ounce in early trade. US gold futures slid 0.5 to USD 1,185.9 per ounce.

U.S. gold futures were up 0.3 % at $1,191.40 per ounce.

 Gold prices slipped below the Rs 29,000-mark at the domestic bullion market here today following selling by stockists coupled with subdued local buying interest amid bearish global cues. 

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 Pure gold (99.9 purity) also moved up by a similar margin to end at Rs 29,055 per 10 grams as against to Rs 29,150 previously.

                    Globally, gold prices fell due to expectations of rising US interest rates and a higher dollar and improving sentiment for global economic growth, which means investors are likely to favour risk assets such as equities.