New Delhi, Oct. 22 -- Gold prices on the MCX opened sharply lower in Wednesday's evening session, with the December futures contract starting at Rs.124,423 per 10 grams and sliding further to Rs.120,575, their lowest level since October 10, marking a 6% drop from the previous close.

Meanwhile, spot gold prices also extended their decline on Wednesday, falling over 2% to below $4,007 per ounce, resulting in a cumulative two-day drop of around 8%. They are currently at their lowest level since October 13.

(more to come)

Published by HT Digital Content Services with permission from MINT....