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Commodities

Gold Prices Plummet on Weak Spot Demand

Guavy AI Editorial Team
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Gold
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Gold prices on the Multi Commodity Exchange (MCX) dropped to Rs 1,41,850 per 10 grams in futures trade. This decline was a result of weaker spot demand for gold. The yellow metal contracts for August delivery traded lower by Rs 1,213, or 0.85%, in a business turnover of 759 lots.

The analysts attributed the decline in precious metal prices to the decreased spot demand. Globally, gold futures declined by 0.85% to USD 4,041.42 per ounce in New York.

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