Gold futures tumbles Rs 1,120 to Rs 67,832/10g

New Delhi, Jul 25 (PTI) Gold prices on Thursday tumbled Rs 1,120 to Rs 67,832 per 10 grams in futures trade amid weak global cues.

On the Multi Commodity Exchange, gold contracts for August delivery plummeted Rs 1,120 or 1.62 per cent to Rs 67,832 per 10 grams in a business turnover of 9,352 lots.

Market analysts said gold prices showed very high volatility and on Wednesday, the yellow metal witnessed a rise of Rs 363 in the futures market.

“…on Thursday morning, we are seeing sharp declines in Gold…prices in the Asian markets amid intense risk-aversion, fuelled by mounting economic worries in China,” Rahul Kalantri, VP of Commodities at Mehta Equities Ltd, said.

Globally, gold was trading 1.77 per cent lower at USD 2,420.40 per ounce in New York.