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Gold Prices Diverge: MCX Falls, Global Spot Rises
24 Jul
Summary
- Gold futures on MCX opened sharply lower on July 24.
- International spot gold prices edged higher on July 24.
- 24-carat gold futures on MCX declined by Rs 2,884.
Gold prices exhibited volatility on Friday, July 24, with distinct trends observed in domestic Indian markets and the global arena. Gold futures trading on the Multi Commodity Exchange (MCX) opened sharply lower.
Specifically, 24-carat gold futures on MCX dropped by 1.98 percent, equating to a Rs 2,884 decrease from the previous close, settling at Rs 1,42,796 per 10 grams. In stark contrast, international spot gold prices saw an upward movement, reaching $4,050.20 per ounce.
According to data from the Indian Bullion and Jewellers Association (IBJA), the price for 24-carat gold stood at Rs 1,44,605 per 10 grams on Friday morning. Retail pricing from Goodreturns indicated 24-carat gold at Rs 1,47,420 per 10 grams.
