Gold futures ended their four-day winning streak on Wednesday, plunging by Rs 1,975 or 2.03 per cent to Rs 95,365 per 10 grams, as investors locked in profits following a rally to record highs, as per MCX data.
On the Multi Commodity Exchange, gold contracts for June delivery slipped to Rs 95,365 per 10 grams, with a business turnover of 18,885 lots.
Rahul Kalantri, Vice-President of Commodities at Mehta Equities Ltd, attributed the sharp correction to profit booking triggered by a more conciliatory tone from US President Donald Trump, especially regarding the Federal Reserve and trade relations with China.