Indian Gold Prices Remain Flat Amid Weaker Demand

Gold prices in India remained stable at Rs 1,59,650 per 10 grams in futures trade, despite a decline of Rs 13 or 0.01% due to weaker spot demand.

The yellow metal contracts for the October delivery traded down from its previous close of Rs 1,59,663 but ended the session flat, with a business turnover of 9,291 lots.

Analysts pointed out that the decline in precious metal prices was largely due to muted spot demand.

In contrast, globally, gold futures edged up by 0.23% to $4,601.64 per ounce in New York.