Gold Prices Decline on MCX Amid Weaker Spot Demand
Gold prices declined on the Multi Commodity Exchange (MCX) as weaker spot demand weighed on the yellow metal. On Friday, gold futures for October delivery traded at Rs 1,46,180 per 10 grams, down by Rs 180 or 0.59 percent in a business turnover of 916 lots.
Globally, gold futures also declined by 0.21 percent to $4,121.55 per ounce in New York, according to analysts. The drop in precious metal prices can be attributed to the decrease in spot demand, which is affecting the overall market value.