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Commodities

MCX Gold Futures Plummet by ₹3,171 Amid Weak Spot Demand

Guavy AI Editorial Team
Instruments
Gold
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Gold futures saw a significant decline of ₹3,171 on the Multi Commodity Exchange (MCX) due to weak spot demand. This development came as a surprise to market analysts who were expecting a more stable trend.

The drop in gold prices can be attributed to the increased supply of gold from various sources, including imports and domestic production. As a result, the existing inventory has exceeded expectations, leading to lower prices.

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