Gold futures declined for the seventh consecutive session on Wednesday, falling Rs 1,559 to Rs 1,50,170 per 10 grams, as renewed military tensions between the US and Iran pushed crude oil prices higher and raised concerns over inflation and interest rates.
On the Multi Commodity Exchange (MCX), gold contracts for October delivery dropped 1.03% to Rs 1,50,170 per 10 grams from Tuesday’s close of Rs 1,51,729.
The December contract also fell Rs 1,753, or 1.14%, to Rs 1,51,540 per 10 grams, compared with the previous close of Rs 1,53,293.