Gold Futures Decline on MCX
Gold futures on the Multi Commodity Exchange (MCX) slipped sharply in Tuesday's trade, with August delivery contracts dropping by Rs 1,417, or 0.96 per cent, to settle at Rs 1,45,500 per 10 grams. The business turnover for the session stood at 848 lots, according to exchange data.
Market Context and Impact
The decline in gold futures comes amid global cues, with international gold prices also under pressure due to a stronger US dollar and rising bond yields. Analysts noted that profit-booking at higher levels contributed to the downward move in domestic prices. The August contract had earlier touched a high of Rs 1,47,200 before retreating.
Trading Activity and Outlook
The 848-lot turnover indicates moderate trading interest. Market participants are now awaiting US Federal Reserve minutes and inflation data for further direction. A sustained break below Rs 1,45,000 could trigger additional selling, while support is seen at Rs 1,44,500 levels.
