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Gold prices under pressure as spot demand weakens in domestic market

Gold futures on the MCX fell Rs 1,280, or 0.84 per cent, to Rs 1,50,219 per 10 grams on Monday amid weak spot demand. Globally, gold futures declined 0.25 per cent to USD 4,183.59 per ounce in New York, reflecting weakness in both domestic and international markets

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Representational image. File pic

Representational image. File pic

Gold prices on Monday declined Rs 1,280 to Rs 1,50,219 per 10 grams in futures trade amid a fall in spot demand.

On the Multi Commodity Exchange, yellow metal contracts for December delivery traded lower by Rs 1,280, or 0.84 per cent, at Rs 1,50,219 per 10 grams in a business turnover of 2,622 lots.

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