According to MCX data, spot gold prices fell 0.48% to ₹77,622.00 per 10 gram around 10 am on Monday, October 28, 2024. This has happened after prices have been steadily rising for most parts of the year.
Meanwhile, gold futures prices for December 05, 2024 on MCX fell 0.42% or ₹332 to ₹78,200.
Meanwhile, gold futures prices for December 05, 2024 on MCX fell 0.42% or ₹332 to ₹78,200. Gold prices rose throughout the year due to several factors, including geopolitical tensions such as the Russia-Ukraine war and the Israel-Gaza conflict.
According to the report, another reason was the decision by China’s central bank to cut 1-year and 5-year prime loan rates by 25 basis points.