New Delhi, Feb 27 – Gold prices witnessed a sharp decline on Thursday, dropping by ₹723 to ₹85,151 per 10 grams in futures trading, pressured by muted demand in the domestic market and weak global trends.
On the Multi Commodity Exchange (MCX), gold contracts for April delivery fell by 0.84% to ₹85,151 per 10 grams, with a total business turnover of 15,248 lots. Market analysts attributed the decline to subdued demand and bearish global sentiments.
In the international market, gold futures dipped below the crucial $2,900 mark, shedding $36.50 or 1.25% to trade at $2,894.10 per ounce in New York. The drop comes amid volatility in global markets, impacting investor sentiment toward the yellow metal.
The fall in gold prices highlights ongoing market uncertainties, with traders closely monitoring global economic cues and central bank policies.
