Gold Price Drops 1% on MCX Amid Profit Booking

The price of gold on the Multi Commodity Exchange (MCX) dropped by 1% on July 28, 2026, amid profit booking. The gold August 5 contract opened with a drop of Rs 710 or 0.49% at Rs 1,42,353 per 10 grams against the previous close of Rs 1,43,063.

The yellow metal futures for October 2026 were down by Rs 746 or 0.52% to trade at Rs 1,43,440 per 10 grams in business turnover of 8,322 lots.

Ponmudi R, CEO of Enrich Money, said, 'MCX Gold opened with a gap down and is trading with a negative bias. Immediate support is placed at Rs 1,42,000, Rs 1,41,500, and a decisive break below this zone could drag prices toward the Rs 1,40,500, Rs 1,40,000 support area.'