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This is an archive article published on April 29, 2010

Gold falls on less demand at higher levels

Gold prices fell by Rs 72 to Rs 17,032 per ten gram in futures market today owing to slackness in demand at existing higher levels.

Gold prices fell by Rs 72 to Rs 17,032 per ten gram in futures market today owing to slackness in demand at existing higher levels.

Trading sentiment turned bearish as traders refrained from enlarging their positions as gold prices traded above the psychological level of Rs 17,000-mark.

At the Multi Commodity Exchange,gold for June-month contract fell by Rs 72,or 0.42 per cent to Rs 17,032 per ten gram,with an open interest of 16,882 lots.

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The metal for delivery in August contract also declined by Rs 66,or 0.38 per cent to Rs 17,120 per ten gram in 1,173 lots.

Marketmen said,fall in demand at existing higher levels mainly led to a fall in gold prices at futures trade.

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