Commodities
Gold Prices Plummet in India's Domestic Futures Market
The price of gold has seen a significant decline in India's domestic futures market. The October 5 expiry gold contract on the Multi Commodity Exchange (MCX) dropped to an early low of Rs 1,54,750 per 10 grams, down from its last close of Rs 1,55,775. This marks a fall of over Rs 1,000 in just one trading session.
The decline was not limited to gold; silver futures also saw a dip. The December 4 delivery contract on MCX fell by more than Rs 1,000 to a low of Rs 2,40,420 per kilogram from its last closing price of Rs 2,42,349.
The prices were last seen at Rs 1,55,004 for gold and Rs 2,40,709 for silver on MCX. The domestic retail market also reflected this trend with gold rates easing across all purity levels.