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Gold prices fell 0.16 per cent to Rs 28,487 per 10 grams at the futures trade as speculators reduced their positions amid weak global cues.
At the Multi Commodity Exchange, gold for delivery in February fell Rs 46 or 0.16 per cent to Rs 28,487 per 10 grams in a business turnover of 40 lots. Similarly, the metal for delivery in April traded lower by Rs 28 or 0.10 per cent at Rs 28,480 per 10 gram in 3 lots.
Market analysts attributed the fall in gold futures to a weak trend overseas. Globally, gold shed 0.02 per cent to $1,248 an ounce in Singapore.
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