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Commodities

Indian Gold Futures Plummet to Rs 163,109 Amid Weak Spot Demand

Guavy AI Editorial Team
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Gold
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Gold futures in India dropped to Rs 1,63,109 per 10 grams on MCX for October delivery due to weak spot demand. The price decline was also influenced by a fall in global gold prices.

New Delhi-based analysts attributed the decrease in precious metal prices to lower spot demand. On the Multi Commodity Exchange, yellow metal contracts for October delivery traded at Rs 1,63,109 per 10 grams with a business turnover of 1,595 lots.

The global market saw gold futures decline by 0.23% to USD 4,641.42 per ounce in New York. This decrease in prices is attributed to the current economic situation and its impact on the demand for precious metals.

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