Commodities
Gold Prices Flat at Rs 1,59,650/10g Amid Tepid Demand
Gold futures on the Multi Commodity Exchange (MCX) traded flat at Rs 1,59,650 per 10 grams on Thursday. The stability in prices was due to muted spot demand for gold.
The price of gold had dropped significantly earlier in the session before stabilizing. Analysts attributed the decline in precious metal prices to weaker spot demand.
Globally, gold futures edged up by 0.23 per cent to USD 4,601.64 per ounce in New York. However, this increase did not have a significant impact on the Indian market.