Gold Prices Rise as MCX Sees Gain Amid Weak Global Cues and Profit-Booking
Gold prices in India continued to fluctuate on August 15, with the Multi Commodity Exchange (MCX) seeing a gain of 0.73 per cent during the morning session.
The benchmark for 24-carat gold on the MCX advanced by Rs 1,124 to Rs 1,54,590 per 10 grams compared to its previous close of Rs 1,53,466 per 10 grams.
In Delhi's bullion market, gold was quoted at Rs 1,56,200 per 10 grams, inclusive of all taxes. According to the Indian Bullion Jewellers Association (IBJA), 24-carat gold prices stood at Rs 1,52,360 per 10 grams, while international gold prices were at $4,432 per ounce.
Market analysts attributed the decline in domestic futures prices largely to subdued physical demand. Saumil Gandhi, Senior Analyst (Commodities) at HDFC Securities, said that gold prices fell on Friday amid weak global cues and profit-booking following the recent rise in gold prices.