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Gold futures prices down on weak global cues

The metal for delivery in August month contracts shed Rs 217,or 0.86 per cent.

Written by PTI | New Delhi | Published: June 28, 2013 12:54:13 pm

Amid a weak trend overseas,gold prices fell 0.92 per cent to Rs 25,267 per 10 gm in futures trade today as speculators indulged in trimming positions.

At the Multi Commodity Exchange,gold for delivery in far-month October contracts eased by Rs 235,or 0.92 per cent,to Rs 25,267 per 10 gm in business turnover of 134 lots.

Likewise,the metal for delivery in August month contracts shed Rs 217,or 0.86 per cent,to Rs 25,158 per 10 gm in 2,967 lots.

Analysts said a weak trend in the overseas markets,where gold dipped below USD 1,200 an ounce to trade at nearly three-year low on persistent worries over the US Federal Reserve’s plan to wind down its monetary stimulus,put pressure on the gold prices at futures trade here.

Globally,gold fell 0.60 per cent,to USD 1,191.79 an ounce after touching a year low of USD 1,180.71 in Singapore today.

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