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Gold futures prices shed 0.26 per cent to Rs 28,073 per ten grams today as participants indulged in offloading their positions after the metal dropped to a seven-week low in global markets.
Gold prices fell Rs 73 or 0.26 per cent to trade at Rs 28,073 per 10 gram for far-month June contracts on the Multi Commodity Exchange. It clocked a turnover of 405 lots.
Similarly, the metal for delivery in April shed Rs 15 or 0.05 per cent to Rs 28,521 per 10 gram in 135 lots.
Market analysts said sustained weakness in the overseas markets, where gold fell to its lowest price in seven weeks after holdings in the largest exchange-traded product shrank the most in five weeks, put pressure on the precious metal prices here.
Globally, gold lost 0.5 per cent to $1,278.20 an ounce, the lowest since February in Singapore.
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