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Gold Prices Dip: Mixed Signals in Indian Cities
27 Apr
Summary
- Gold futures fell on MCX due to weak global cues.
- Retail gold prices showed mixed trends across Indian cities.
- International gold futures also experienced a slight decline.
Gold prices experienced a downturn in futures trading on Monday, tracking subdued global cues and softer domestic demand. On the Multi Commodity Exchange (MCX), gold contracts for June delivery registered a decrease of Rs 349, or 0.23 per cent, settling at Rs 1,52,350 per 10 grams. Analysts attributed this decline to weak international signals impacting investor sentiment.
Internationally, gold futures in New York saw a slight dip of 0.05 per cent, trading at $4,711.98 per ounce amid cautious global market trends. This overall downward movement in futures contrasted with a mixed performance in retail gold prices across various Indian cities. While some cities like Delhi, Mumbai, Kolkata, Ahmedabad, Jaipur, Bhubaneswar, Pune, and Kanpur reported marginal gains, others such as Bengaluru and Hyderabad maintained their previous day's prices. Chennai also saw its gold prices remain steady.
