Gold price falls ₹431 to ₹1.55 lakh/10g in futures trade; snaps two-day rise
On MCX, the yellow metal futures for October delivery declined ₹431, or 0.28% to ₹1,55,344 per 10 grams.
Gold prices plummeted by ₹431 to ₹1.55 lakh per 10 grams in futures trade, halting a two-day climb, according to trading data on the Multi Commodity Exchange. The decline of 0.28% to Rs 1,55,344 per 10 grams signaled a shift towards investor caution as the US nonfarm payrolls data loomed on the horizon. Traders cited profit-taking after recent gains as the primary reason for the dip, while market participants remained wary of the forthcoming economic indicator.
International markets also saw a slight dip in Comex gold futures for the December contract, settling at USD 4,528.54 per ounce in New York. Analysts, including Gaurav Garg of brokerage platform Lemonn, noted that traders are eagerly anticipating the US nonfarm payrolls report, which could significantly influence the dollar, treasury yields, and precious metals markets.
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