Gold futures decline to ₹1.43 lakh/10 gram on weak spot demand

Gold prices dropped ₹646 to ₹1,43,492 per 10 grams in futures trade on Wednesday, as spot demand waned. The Multi Commodity Exchange reported that December delivery contracts for the yellow metal fell by ₹646, or 0.45%, to ₹1,43,492 per 10 grams in a trade volume of 699 lots. Analysts cited the decline in spot demand as the reason behind the precious metal's lower prices. In a broader context, gold futures across the globe slipped by 0.72% to $4,030.95 per ounce in New York.