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Gold futures down on global cues

A weak trend in the overseas markets on signs that physical purchases may be slowing after prices climbed to the highest since April 15, mainly put pressure on gold futures here

Press Trust of India New Delhi
Gold prices moved down by 0.34% to Rs 27,323 per 10 gm in futures trade today after participants off-loaded partial positions, taking weak cues from the global market.

At the Multi Commodity Exchange, the August contract eased by Rs 92, or 0.34%, to Rs 27,323 per 10 gm in business turnover of 19 lots.

The June contract shed Rs 87, or 0.32%, to Rs 27,009 per 10 gm in 639 lots.

Market analysts said a weak trend in the overseas markets on signs that physical purchases may be slowing after prices climbed to the highest since April 15, mainly put pressure on gold futures here.
 
Globally, gold fell 0.7% to $1,459.60 an ounce in Singapore today.

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First Published: May 07 2013 | 11:16 AM IST

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