Gold and Silver Prices Fall Amid Subdued Demand
Gold and silver prices declined on Friday amid subdued spot demand in India. The decline was attributed to softer demand in the physical market, which put pressure on futures trading.
On the Multi Commodity Exchange (MCX), gold futures for October delivery fell by Rs 818, or 0.56%, to Rs 1,44,022 per 10 grams. In the international market, gold futures slipped 0.69% to $4,075 per ounce in New York.
Market analysts pointed out that weakness in international bullion prices also contributed to the decline in gold prices. The softening of demand in the physical market put pressure on futures trading, leading to a decrease in gold and silver prices.