Gold prices head for biggest monthly drop since 2008

After hitting an all-time intraday high of ₹1,92,991 per 10 grams on MCX earlier this year, gold futures with August 5 expiry slipped to around ₹1,42,413, down nearly ₹50,600, or over 26%, from its peak. The latest decline comes as international gold prices are on track to fall about 12.5% this month, marking their biggest monthly decline since October 2008.