Gold Futures Slip by ₹547 to ₹98,870 per 10g Amid Weak Global Cues

Gold prices fell sharply in futures trade on Thursday, declining by ₹547 to ₹98,870 per 10 grams, primarily due to weak global trends and subdued demand in the spot market.

On the Multi Commodity Exchange (MCX), gold contracts for August delivery dropped by ₹547 or 0.55%, with a turnover of 8,786 lots. Market analysts said the dip was driven by sluggish international cues and lackluster domestic buying interest.

“Muted demand in the physical market along with pressure from global trends led to the decline in prices,” said a commodity analyst.

Global gold prices have been fluctuating due to uncertainties over interest rates, economic outlook, and strength in the U.S. dollar, impacting domestic futures as well.

Traders are keeping a close watch on upcoming economic data and central bank policy signals, which could influence bullion demand in the coming days.