Gold Futures Decline to INR 1.50 Lakh on Global Cues

New Delhi, May 4 (BNP): Gold prices declined in futures trade on Monday, tracking weak global cues as a stronger US dollar and rising crude oil prices weighed on bullion demand.

 On the Multi Commodity Exchange (MCX), gold futures for June delivery fell by ₹1,149, or 0.76 percent, to ₹1,50,203 per 10 grams, with a total trading volume of 9,510 lots.

The decline comes after a similar trend in the previous week, when gold prices dropped by about 1 percent, or ₹1,347, to settle at ₹1.51 lakh per 10 grams.

Market analysts said pressure on gold was largely driven by firmness in the dollar index, which reduces the appeal of the yellow metal, along with elevated crude oil prices that continue to influence global commodity markets.

Overall, bullion prices remain volatile, with investors closely tracking global economic indicators, currency movements, and geopolitical developments for further direction.