Gold Falls to Rs 1.54 Lakh Per 10 Grams, Silver Declines 0.81 Percent

Gold and silver prices took a hit on Monday in futures trade, according to data from the Multi Commodity Exchange (MCX).

Gold contracts for October delivery traded lower by Rs 2,045, or 1.31 per cent, at Rs 1,54,236 per 10 grams in a business turnover of 2,680 lots.

The decline in gold prices was attributed to weaker spot demand, analysts said.

Silver contracts for December delivery declined by Rs 1,955, or 0.81 per cent, to Rs 2,40,489 per kg in a business turnover of 2,004 lots.

The global market also saw gold futures decline by 0.51 per cent to USD 4,432.51 per ounce in New York, while silver prices were trading 1.04 per cent down at USD 68.22 per ounce.