Gold Prices Plummet Across India Amid Weak Global Cues
Gold prices have dropped across India on August 31, resulting in lower costs for retail buyers. The decline is evident across all major purity levels. A single gram of 24-karat gold now stands at ₹15,677, a decrease of ₹147 from the previous trading session. For 22-karat gold, the rate dropped by ₹135 to settle at ₹14,370 per gram. The price of 18-karat gold fell by ₹83 to stand at ₹11,785 per gram.
The decline in gold prices is also reflected in futures contracts on the Multi Commodity Exchange (MCX), where gold and silver prices dropped by up to 2% during morning deals on August 31. The downward movement is attributed to heavy profit-taking amid weak global cues. October gold futures slid by more than ₹2,600, plummeting to ₹1,53,640 per 10 grams.