Gold futures fell by ₹1,230 to ₹1,42,079 per 10 grams on the Multi Commodity Exchange, driven by weaker spot demand. The decline mirrored global trends, where gold futures in New York dropped by 0.26%.
Gold prices on Friday experienced a downward trend in futures trade, declining by ₹1,230 to settle at ₹1,42,079 per 10 grams. Market participants noted that the drop was primarily driven by a notable fall in spot demand for the precious metal.
On the Multi Commodity Exchange (MCX), gold contracts designated for December delivery traded lower by ₹1,230, marking a 0.86 per cent decrease to reach ₹1,42,079 per 10 grams. Market activity during the session recorded a total business turnover of 1,670 lots.
Industry analysts attributed the downward price movement directly to weaker demand in the physical spot markets. This domestic correction aligns with international market movements, as global gold futures declined by 0.26 per cent to trade at $4,014.23 per ounce in New York.
"Fluctuations in commodity prices like gold often reflect broader shifts in market liquidity, spot demand, and global macroeconomic indicators. For businesses and investors, tracking these movements on platforms like the Multi Commodity Exchange provides critical insight into short-term sentiment and commodity cycle trends, reminding us of the importance of maintaining balanced asset allocation during periods of price correction." — Dr. Shishir Gupta, Founder & CEO, StartupLanes
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