Gold futures receded marginally in early trade on the Multi Commodity Exchange (MCX) today as speculators indulged in profit-booking at existing higher levels, influenced by a subdued demand in the spot markets.
At 1145 hours on the MCX counter, gold for the most-active August contract weakened by 0.13 per cent to Rs 14,851 per 10 gram, with an open interest for 13,975 lots.
The metal for delivery in October traded 0.08 per cent lower at Rs 14,852 per 10 gram, clocking of 1,033 lots.
Traders attributed the fresh fall in gold prices to speculators indulging in booking profits at existing higher levels.
They said subdued demand in the spot markets due to off- marriage season, also weighed on the prices.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app