NEW DELHI, (Economy India): Gold futures prices declined on Friday as weaker demand in the physical market weighed on investor sentiment. The precious metal slipped by Rs 818, or 0.56 per cent, to Rs 1,44,022 per 10 grams in futures trade.
On the Multi Commodity Exchange (MCX), gold contracts for October delivery were trading at Rs 1,44,022 per 10 grams, with a business turnover of 683 lots.
Market analysts said the decline in gold prices was mainly driven by reduced buying interest in the spot market. Softer physical demand often impacts futures prices, especially when traders expect limited short-term support from domestic consumption.
Gold prices have remained volatile in recent sessions due to changing market sentiment, movements in the US dollar, global economic data, and expectations regarding interest rate decisions by major central banks. However, Friday’s decline was largely linked to subdued spot demand.
Despite the day’s weakness, market participants continue to monitor global economic developments, inflation trends, and geopolitical factors that could influence the direction of gold prices in the coming weeks.
(Economy India)
