India, June 8 -- Gold prices declined sharply in futures trade on Monday, with the benchmark August contract falling Rs 2,374 to Rs 1,53,220 per 10 grams amid subdued spot demand and weak global market sentiment.
On the Multi Commodity Exchange (MCX), gold contracts for August delivery traded 1.53% lower at Rs 1,53,220 per 10 grams, with a turnover of 1,730 lots.
Market analysts attributed the decline in gold prices to weak global cues, which weighed on investor sentiment and reduced buying interest in the precious metal. The fall also reflected softer demand in the domestic spot market.
Investors will continue to monitor global economic developments, currency movements and geopolitical events for further direction in gold prices.
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