Gold prices dropped by Rs 171 to Rs 1,51,128 per 10 grams in futures trade on Thursday due to weaker spot demand.
The Multi Commodity Exchange saw yellow metal contracts for October delivery trading lower by Rs 171, or 0.11 per cent, at Rs 1,51,128 per 10 grams in a business turnover of 867 lots.
Analysts attributed the decline in precious metal prices to weaker spot demand.
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