Gold Price Falls for Sixth Consecutive Day on MCX Amid Higher Oil Prices
The price of gold continued to fall for the sixth consecutive session on the Multi Commodity Exchange (MCX) due to escalating Middle East tensions and higher crude oil prices. The October 5 contract opened at Rs 1,50,033 per 10 grams, down from the previous close of Rs 1,51,729, a decline of Rs 696 or 0.46 per cent.
The price of gold continued to fall throughout the day, touching an intraday low of Rs 1,49,665, down Rs 2,064 or 1.36 per cent from the previous close. The December 2026 gold futures contract was also down by Rs 933 or 0.61 per cent.
Aamir Makda, Commodity & Currency Analyst, Technical Research, Choice Broking said, 'Gold price in India has resumed gapped down today at 1,50,033 and continued to decline for the 6th consecutive session.'