Gold futures drop on weak demand and lower global cues

Gold futures experienced a slight decline in New Delhi, dropping by Rs 16 to Rs 1,49,300 per 10 grams. The dip was attributed to weaker spot demand and lower global cues. The December delivery contracts saw a modest decrease of 0.01 percent, with trading volumes at 1,281 lots.

Analysts pointed to weaker spot demand as the primary reason for the price drop. Globally, gold futures also fell by 0.20 percent to $4,131.19 per ounce in New York trading.