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As on : 12-Nov-2024
Other Markets - Bullion Markets
12-Nov-2024     14:19

Gold tumbles for third day; MCX futures break ₹75,000 mark

Gold prices dropped to around $2,600 per ounce on Tuesday, marking a third straight day of declines and hitting a one-month low amid a stronger US dollar and declining safe-haven demand. The dollar index surged past 105.7, reaching its highest point in over four months, fueled by anticipation of Trump trades linked to potential economic boosts under a second Trump administration. On the domestic front, MCX bullion futures fell below ₹75,000, down nearly ₹500 per 10 grams. World Gold Council data also revealed that Indian gold ETF holdings have doubled over four years, reaching a record 54.5 tonnes.

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