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Gold futures decline on profit-taking

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Press Trust of India New Delhi

Gold prices declined by Rs 19, or 0.10 per cent, to Rs 19,320 per ten gram in futures market today, as speculators booked-profits at existing higher level, driven by a decline in spot demand.

At the Multi Commodity Exchange counter, gold for February fell by Rs 19, or 0.10 per cent, to Rs 19,320 per ten gram, with an open interest of 915 lots.

Similarly, the metal for delivery in October traded lower by Rs 18, or 0.09 per cent, to Rs 19,116 per ten gram, with an open interest of 19,647 lots.

Market analysts said profit-taking by speculators at existing higher level and fall in demand in the spot market mainly led to a drop in gold prices at futures trade.

 

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First Published: Sep 01 2010 | 2:38 PM IST

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