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Market News

Gold futures tumbles ₹1,120 to ₹67,832 per 10g

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By Press Trust of India (PTI)

1 min read | Updated on July 25, 2024, 15:08 IST

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SUMMARY

Market analysts said gold prices showed very high volatility and on Wednesday, the yellow metal witnessed a rise of ₹363 in the futures market.

Gold was trading 1.77% lower at USD 2,420.40 per ounce in New York

Gold was trading 1.77% lower at USD 2,420.40 per ounce in New York

Gold prices on Thursday tumbled ₹1,120 to ₹67,832 per 10 grams in futures trade amid weak global cues.

On the Multi Commodity Exchange, gold contracts for August delivery plummeted ₹1,120 or 1.62% to ₹67,832 per 10 grams in a business turnover of 9,352 lots.

Market analysts said gold prices showed very high volatility and on Wednesday, the yellow metal witnessed a rise of ₹363 in the futures market.

"...on Thursday morning, we are seeing sharp declines in Gold...prices in the Asian markets amid intense risk-aversion, fuelled by mounting economic worries in China," Rahul Kalantri, VP of Commodities at Mehta Equities Ltd, said.

Globally, gold was trading 1.77% lower at USD 2,420.40 per ounce in New York.

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About The Author

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Press Trust of India (PTI) is India's premier news agency.

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