India's Festive Season Brings Gold Price Downturn
The festive season has begun in India, and with it comes a surge in gold demand. The Multi Commodity Exchange (MCX) saw a drop of ₹28 in its futures price for 24-carat gold, initially falling by 0.02% to ₹1,52,560 per 10 grams.
This decline is part of a broader trend seen in the international market, where prices have fallen on Comex. Gold has dropped by 0.01%, reaching $4,351.60 per ounce, while silver fell 0.29% to $63.950 per ounce.
On MCX, the futures price for 24-carat gold (for October 5, 2026 delivery) fell by 0.19% to reach ₹1,50,950 per 10 grams as of 10:58 AM. This indicates a decrease of ₹1,638 in gold prices.
Delhi and other major cities saw similar drops in gold rates, with 24-carat gold (10g) priced at ₹153,320, 22-carat gold at ₹140,550, and 18-carat gold at ₹115,030.