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Gold futures decline 0.35% on weak global cues

Fall in demand at domestic spot markets contributes to downtrend

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Press Trust of India New Delhi
Last Updated : Jan 25 2013 | 5:33 AM IST

Gold futures prices today fell by 0.35% to Rs 31,790 per 10 grams as speculators reduced their exposures amid a weak trend overseas.

At the Multi Commodity Exchange, gold for delivery in December fell by Rs 113, or 0.35%, to Rs 31,790 per 10 grams, with a business turnover of 2,734 lots.

October gold moved down by Rs 105, or 0.33%, to Rs 31,430 per 10 grams, with a business turnover of 1,069 lots.

Globally, spot gold fell as much as 0.5% to $1,764 an ounce in Singapore today.

Marketmen said besides a weak trend in global markets on signs of a global slowdown, fall in demand at domestic spot markets put pressure on the gold prices at futures trade here.

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First Published: Oct 01 2012 | 11:53 AM IST

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