Gold futures on India’s Multi Commodity Exchange fell ₹782 to ₹1,43,380 per 10 grams on Monday, marking a 0.54% decline in session trading.
The drop was driven by a noticeable softening in spot demand, which has failed to provide a floor for prices after the metal’s recent technical breakdown.
The slide continues a broader loss of momentum for the yellow metal, which recently breached the critical $4,000 per ounce support level.
The slide continues a broader loss of momentum for the yellow metal, which recently breached the critical $4,000 per ounce support level.
That technical breakdown signaled a shift in market sentiment, moving focus from safe-haven buying to profit-taking and risk-off positioning in other asset classes.
Despite a modest recovery earlier in the week—where futures rose ₹405 to ₹1.41 lakh per 10 grams on value buying—the rebound proved short-lived.
Persistent headwinds, including a resilient US dollar and lackluster physical demand, have kept selling pressure intact.