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Commodities

MCX Gold Prices Plunge ₹2,045 Amid Weaker Spot Demand

Guavy AI Editorial Team
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Gold
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Gold prices on the Multi Commodity Exchange (MCX) fell by ₹2,045 to ₹1,54,236 per 10 grams in futures trade on Monday. This decline was attributed to weaker spot demand for the precious metal.

The October delivery contracts of gold traded lower by ₹2,045, or 1.31%, in a business turnover of 2,680 lots. The global market also saw a decline in gold futures, which dropped by 0.51% to USD $4,432.51 per ounce in New York.

The fall in gold prices on the MCX is consistent with the trend observed globally. Analysts will be closely watching the spot demand and its impact on future market trends.

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