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Commodities

Indian Gold Prices Slip on Weaker Spot Demand

Guavy AI Editorial Team
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Gold
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Gold prices in India took a hit on Tuesday, with futures trade declining by Rs 120 to reach Rs 1,63,109 per 10 grams. This downturn was largely attributed to weaker demand in the physical or spot market.

The Multi Commodity Exchange (MCX) saw gold contracts for October delivery fall by Rs 120, or 0.07 percent, in line with this trend. The contracts recorded a business turnover of 1,595 lots on the exchange.

Despite the decline, analysts point out that gold prices remain at elevated levels, influenced by market demand and global price trends. Meanwhile, international trade saw gold futures fall 0.23 percent to USD 4,641.42 per ounce in New York.

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