Commodities
Gold, Silver Prices Plummet Amid Weaker Demand
Gold and silver prices declined in futures trade on Monday due to weaker spot demand. The Multi Commodity Exchange (MCX) gold futures for October delivery fell by Rs 773, or 0.5%, to Rs 1,53,608 per 10 grams.
In the international market, gold futures also moved lower, falling 0.53% to $4,355.59 per ounce in New York. Analysts attributed the decline in gold prices to weaker spot demand.
Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, said MCX gold had opened the previous week on a weak note near Rs 1.5 lakh per 10 grams before recovering towards Rs 1.54 lakh as buying emerged at lower levels.