June Gold Futures Drop Over 2.6% on MCX; Global Prices Also Decline
New Delhi, May 12 – Gold prices sharply declined on Monday, plunging ₹2,553 to settle at ₹93,965 per 10 grams in futures trade, driven by weak global market trends.On the Multi Commodity Exchange (MCX), the gold contracts for June delivery dropped by 2.65 percent, recording a price of ₹93,965 per 10 grams. The session saw a business turnover of 13,688 lots, indicating active trading despite the bearish sentiment.
Market analysts attributed the significant drop in domestic gold prices to negative global cues, with international gold futures also registering a decline.
In the global market, gold futures in New York slipped by 1.49 percent, reaching USD 3,275.39 per ounce, further reinforcing bearish pressure on domestic prices.
The downward trend reflects caution among investors amid shifting global economic signals, impacting safe-haven demand for the precious metal.
