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Gold prices fell Rs 63 to Rs 31,112 per 10 grams at the futures trade as participants reduced their positions, largely in line with a weak trend overseas. Profit-booking at existing levels also weighed on gold futures.
At the Multi Commodity Exchange, gold for delivery in June was trading lower by Rs 63 or 0.20 per cent at Rs 31,112 per 10 grams in a business turnover of 471 lots. Also, the metal for delivery in far-month August shed Rs 52 or 0.17 per cent to Rs 31,370 per 10 grams in 54 lots.
Analysts said besides a weak trend overseas, profit-booking by speculators at current levels weighed on gold prices at the futures trade. Globally, gold slid 1.73 per cent to $1,290.30 an ounce, its lowest level this year, on surging bond yields and a stronger dollar.
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