Gold futures on India’s Multi Commodity Exchange (MCX) fell ₹166 to settle at ₹1,44,264 per 10 grams on Thursday.
The decline was driven by a noticeable lack of spot demand, which continues to weigh on domestic prices despite supportive global trends.
The domestic slide occurred even as international markets moved in the opposite direction.
Globally, gold futures rose 1.03% to $4,072.25 per ounce in New York trading.
The divergence underscores the specific pressure on Indian physical markets, where retail and industrial buying has failed to provide a floor for prices.
This session’s drop follows a broader period of volatility for the precious metal in India.