Gold prices plummeted by Rs 3,171 to Rs 1,50,106 per 10 grams in futures trade on Monday amid a fall in spot demand.
The decline was attributed to weaker spot demand, as analysts noted that participants reduced their bets on the yellow metal.
Globally, gold futures dropped by 2.37% to USD 4,183.18 per ounce in New York, further pressuring local prices.
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