Indian gold futures hits record high on Monday

Indian gold futures reached a record high on Monday, following global market trends and reducing demand in the world’s second-largest consumer of gold, as reported by Reuters.

Domestic gold futures climbed to 69,487 Indian rupees ($834.07) per 10 grams, marking a nearly 10 per cent increase in 2024.

Gold imports in India are expected to drop by over 90 per cent in March compared to February, reaching their lowest level since the COVID pandemic, according to a government official and two bank dealers as reported by Reuters last week.