Indian Gold Prices Plummet Amid Weaker Demand

Gold futures on the Multi Commodity Exchange (MCX) fell to ₹1,52,305 per 10 grams in futures trade on Monday due to weaker spot demand. The yellow metal contracts for October delivery dropped by ₹462 or 0.3% in a business turnover of 1,390 lots.

The decline in precious metal prices was attributed to the decrease in demand for physical gold. Analysts pointed out that this trend is consistent with the global market, where gold futures declined by 0.84% to USD 4,492.68 per ounce in New York.