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Gold prices declined by 0.51 per cent to Rs 28,444 per 10 grams at the futures trade as participants cut down their bets, tracking a weak trend overseas.
At the Multi Commodity Exchange, gold for delivery in far-month October fell Rs 145 or 0.51 per cent to Rs 28,444 per 10 grams in a business turnover of 1,293 lots.
Similarly, the yellow metal for delivery in August traded lower by Rs 54 or 0.19 per cent to Rs 28,383 per 10 grams in two lots.
Analysts said offloading of positions by traders in line with a weak trend overseas mainly weighed on gold prices at the futures trade.
Globally gold fell 0.31 per cent to $1,262.30 an ounce in Singapore.
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