Gold Futures Tumble on Low Demand Amid Weaker Spot Market
Gold futures fell on Friday due to low demand, with prices dropping Rs 409 to Rs 1,53,057 per 10 grams in futures trade. The October delivery contracts traded lower by Rs 409, or 0.27 per cent, at Rs 1,53,057 per 10 grams in a business turnover of 2,732 lots.
Analysts attributed the decline in precious metal prices to weaker spot demand. Globally, gold futures declined by 0.06 per cent to $4,347.69 per ounce in New York.