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Gold futures remains down on global cues

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Press Trust of India New Delhi

Amid weak trend overseas, gold continued its yesterday's slide to trade 0.24% lower in futures trade today. 

Also, stronger rupee against the US dollar put some pressure on the precious metal prices at futures trade here.

At the Multi Commodity Exchange, gold for delivery in June declined by Rs 53, or 0.24% to Rs 22,438 per 10 grams, with a business turnover of 1,398 lots. It had ended 0.13% lower at Rs 22,491 per 10 gram in yesterday's trade. 

Likewise, the metal for August delivery lost Rs 36, or 0.16% to Rs 22,708 per 10 grams, with a business volume of 1,156 lots.

 

Analysts said a weak trend in the global markets and a strengthening rupee against the US dollar kept gold prices under pressure at futures trade.

Meanwhile, gold traded lower by $2.80 to $1,536.30 an ounce in Asian region.

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First Published: May 31 2011 | 1:49 PM IST

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