Commodities
Indian Gold Prices Plummet Amid Weak Demand
Gold prices in India plummeted on Monday to Rs 1,53,608 per 10 grams due to weak demand. The drop was attributed to a decline in spot demand in the market.
The Multi Commodity Exchange saw trading of yellow metal contracts for October delivery, which traded lower by Rs 773, or 0.5%, at Rs 1,53,608 per 10 grams in a business turnover of 998 lots.
Globally, gold futures declined by 0.53% to USD 4,355.59 per ounce in New York.
Analysts pointed out that the decline in precious metal prices was due to weaker spot demand.