Commodities
Gold Futures Hold Steady Amid Muted Demand
Gold futures traded flat on Thursday at Rs 1,59,650 per 10 grams due to muted spot demand. On the Multi Commodity Exchange, gold contracts for October delivery were stable despite a slight drop in global rates.
The price of gold had dropped significantly earlier in the session, reaching a low of Rs 1,56,692 per 10 grams from its previous close of Rs 1,59,663. However, it quickly stabilized and remained flat at the end of the day.
Globally, gold futures edged up by 0.23% to USD 4,601.64 per ounce in New York. Analysts attributed the decline in precious metal prices to weaker spot demand.