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Commodities

MCX Gold Futures Plummet Amid Weak Demand

Guavy AI Editorial Team
Instruments
Gold
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Gold futures on the Multi Commodity Exchange (MCX) plummeted to Rs 1,50,106 per 10 grams due to weak spot demand. This represents a decline of Rs 3,171 or 2.07% for December delivery contracts.

The price drop was attributed by analysts to weaker spot demand. Globally, gold futures also decreased significantly, falling by 2.37% in New York.

New Delhi saw gold prices drop on Monday, with a business turnover of 1,642 lots. Global gold prices had already been declining due to various market factors.

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