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Gold prices fell 0.45% to Rs 29,299 per 10 grams in futures trading today as participants reduced positions largely in tandem with a weak overseas trend.
At the Multi Commodity Exchange, gold for delivery in February next year eased by Rs 133, or 0.45%, to Rs 29,299 per 10 grams in a business turnover of 371 lots.
Likewise, the metal for delivery in far-month April shed Rs 85, or 0.29%, to Rs 28,814 per 10 grams in seven lots.
Analysts said a weak trend in the overseas markets amid speculation that Federal Reserve policy makers may decide to start cutting back asset purchases this week, and as a survey showed that holdings in exchange-traded products will contract further next year, mainly weighed on gold prices at futures trade.
Globally, gold fell 0.3% to $1,234.90 an ounce in Singapore today.
