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Commodities

Gold Prices Plummet on MCX Amid Weak Spot Demand

Guavy AI Editorial Team
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Gold
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Gold futures on the Multi Commodity Exchange (MCX) dropped by Rs 171 to Rs 1,51,128 per 10 grams due to weak spot demand. The decline in gold prices is also reflected globally, with a 0.25 percent drop in New York.

The MCX saw gold contracts for October delivery trading lower at Rs 1,51,128 per 10 grams in a business turnover of 867 lots. This decrease is attributed to weaker spot demand, according to analysts.

Globally, gold futures declined by 0.25 percent to USD 4,277 per ounce in New York. The decline in precious metal prices can be linked to the fall in spot demand.

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