Gold futures on India’s Multi Commodity Exchange (MCX) fell ₹248 to settle at ₹1,40,100 per 10 grams on Friday, extending a multi-day decline driven by softening physical demand.
The drop marks a continued retreat from the elevated levels seen earlier in the week, as traders reacted to a noticeable lack of spot buying interest across major Indian markets.
The World Gold Council recently raised its 2026 price target to $4,100, citing improved investor sentiment and central bank buying.
The selling pressure follows a session on Thursday where contracts fell ₹166 to ₹1,44,264 per 10 grams, and a sharper decline on Monday when prices dropped ₹782 to ₹1,43,380.
Analysts cited the persistent weakness in spot demand as the primary factor weighing on domestic prices, which have been decoupling slightly from international benchmarks due to local market dynamics.
This domestic correction occurs against a backdrop of shifting global sentiment.
The World Gold Council recently raised its 2026 price target to $4,100, citing improved investor sentiment and central bank buying.