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Gold prices fell 0.23 per cent to Rs 26,714 per 10 grams at the futures market today as speculators offloaded their positions amid a weak global trend.
At the Multi Commodity Exchange, gold for delivery in February next year fell by Rs 62, or 0.23 per cent, to Rs 26,714 per 10 grams in a business turnover of 789 lots.
Similarly, the yellow metal for delivery in December lost Rs 32, or 0.12 per cent, to Rs 26,445 per 10 grams in three lots.
Analysts said the fall in gold futures was mostly in tune with a weak trend in the global market as gains in US employment boosted the case for raising interest rates and strengthened the dollar, curbing demand for the metal just as the European Central Bank meets to consider further stimulus.
Meanwhile, gold in Singapore dropped 0.40 per cent to $1,204.69 an ounce. Gold futures down at Rs 26,714 per 10 gm
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