Breaking News: Humongous Fall in Gold Prices, $50 Decline in the Global Market

In what comes to be a breaking development, there has been a huge fall in gold. As per the official sources, Gold fell around ₹ 1200 on the Multi Commodity Exchange (MCX). The price has dropped to below ₹50,500. The decline has been by about $ 50 in the foreign market

The Multi Commodity Exchange of India Ltd is a commodity exchange based in India. It is under the ownership of the Ministry of Finance, Government of India. is a state-of-the-art, commodity derivatives exchange that facilitates online trading of commodity derivatives transactions, thereby providing a platform for price discovery and risk management.

Gold prices have been on a consistent decline since Monday amid worrying global cues. Earlier today, Gold prices dropped by Rs 645 to Rs 51109 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand.