SRINAGAR: Gold prices fell by Rs 120 to Rs 1,63,109 per 10 grams in futures trade on Tuesday, mainly due to weaker demand in the spot market, analysts said.
On the Multi Commodity Exchange (MCX), gold contracts for October delivery declined by Rs 120, or 0.07 per cent, to Rs 1,63,109 per 10 grams. The contracts recorded a business turnover of 1,595 lots.
Analysts attributed the decline to subdued demand in the physical or spot market.
In international trade, gold futures fell 0.23 per cent to USD 4,641.42 per ounce in New York.
The movement in domestic gold futures came despite the precious metal continuing to trade at elevated levels, with market demand and global price trends influencing prices.
