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Commodities

Gold Futures Plummet on Weak Demand, MCX Prices Fall to Rs 1,52,305

Guavy AI Editorial Team
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Gold futures on the Multi Commodity Exchange (MCX) plummeted to Rs 1,52,305 per 10 grams on September 7 due to weak spot demand. The decline in prices was attributed to a broader market trend, with global gold futures also experiencing a significant drop.

The price of gold for October delivery fell by Rs 462 or 0.3% in the MCX trading session. This marked a decrease from the previous day's prices. Globally, gold futures declined by 0.84% to USD 4,492.68 per ounce in New York.

The drop in gold prices was largely attributed to weaker spot demand, according to analysts. The decline in global prices also contributed to the fall in Indian markets.

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