MCX Gold Futures Slump by Rs 409 Amid Weaker Spot Demand

Gold futures on the Multi Commodity Exchange (MCX) fell by Rs 409 to Rs 1,53,057 per 10 grams for October delivery due to weaker spot demand. Analysts attributed this decline to a decrease in gold prices globally. On Friday, global gold futures dropped 0.06% to USD 4,347.69 per ounce in New York.

The MCX price drop was observed in the yellow metal contracts for the October delivery, trading lower by Rs 409 or 0.27% at Rs 1,53,057 per 10 grams with a business turnover of 2,732 lots.