1 week ago
Gold Futures Fall in India Amid Weak Spot Demand
Gold prices in India went down during futures trading.
The price dropped by Rs 636 for every 10 grams.
Contracts for gold delivery in October fell by 0.41 per cent.
The trading activity involved 837 lots.
Analysts said fewer buyers in the spot market helped push prices lower.
Spot demand means people buying gold for immediate delivery.
In contrast, gold futures in New York rose slightly.
They increased by 0.10 per cent to $4,338.74 per ounce.
Gold prices fell Rs 636 to Rs 1,53,626 per 10 grams in futures trading.
October-delivery gold contracts declined 0.41 per cent.
The contracts recorded a business turnover of 837 lots.
Analysts attributed the domestic decline to weak spot demand.
Gold futures in New York rose 0.10 per cent to $4,338.74 per ounce.
- Who
- Gold traders and analysts.
- What
- Gold futures prices in India declined, while global gold futures edged higher.
- Where
- India, with global prices reported from New York.
- When
- The report does not specify a date.
- Why
- Analysts attributed the domestic decline to weak spot demand.
Key facts
- Domestic price
- Rs 1,53,626 per 10 grams
- Price change
- Down Rs 636
- Contract
- October delivery
- Contract decline
- 0.41 per cent
- Business turnover
- 837 lots
- Global price
- $4,338.74 per ounce in New York
- Global price change
- Up 0.10 per cent
Sources
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