Commodities
Gold Prices Plummet ₹398 on Weak Spot Demand Amid Global Decline
Gold prices on the Multi Commodity Exchange (MCX) dropped by ₹398 to ₹1,52,072 per 10 grams in futures trade on Thursday amid a fall in spot demand.
The decline was attributed to weaker spot demand, with analysts pointing out that gold futures globally had also declined by 0.40% to $4,369.76 per ounce in New York.
The October delivery contracts traded lower in a business turnover of 8,493 lots on the MCX.
Globally, the decline in precious metal prices was attributed to weaker spot demand and a drop in gold futures in New York.