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Gold prices moved down by 0.27 per cent to ₹28,938 per 10 gram at the futures trade today after participants offloaded partial positions even as the metal rose in the global market.
On the Multi Commodity Exchange, gold for delivery in far-month April declined by Rs 79 or 0.27 per cent to ₹28,938 per 10 gram in a business turnover of 262 lots.
Likewise, the metal for delivery in February shed ₹36 or 0.12 per cent to ₹29,809 per 10 gm in 13 lots.
Market analysts attributed the fall in gold futures prices to offloading of positions by speculators, even as the metal regained some strength overseas as concerns that global growth may be faltering sent the equity markets lower and boosted the demand for haven assets.
Globally, the yellow metal rose as much as 0.2 per cent to $1,259.98 an ounce in Singapore today.
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