Commodities
Gold Prices Plummet Amid Weak Demand in Domestic Futures Market
Gold and silver prices fell in the domestic futures market on Friday due to weak spot demand. The price of gold decreased by Rs 818, or 0.56 percent, to Rs 1,44,022 per 10 grams at the Multi Commodity Exchange. Analysts attribute this decline to reduced bets from participants.
The global gold futures in New York also fell 0.69 percent to US$4,075 per ounce. On the other hand, silver prices decreased by Rs 817, or 0.37 percent, to Rs 2,19,150 per kilogram at the Multi Commodity Exchange.
The 24-karat gold rate today is Rs 1,44,150 per 10 grams, while the 22k gold rate today is Rs 1,32,138 per 10 grams. The global white metal fell 0.70 percent to US$58.57 per ounce in New York.