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Gold trades lower on profit selling

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Press Trust of India New Delhi

Gold prices fell by Rs 37 or 0.20 per cent to Rs 18,765 per ten gram in futures trade today on emergence of profit selling by speculators.

Fall in demand at existing higher levels also influenced the trading sentiment.

At the Multi Commodity Exchange counter, gold for October contract fell Rs 37, or 0.20 per cent to Rs 18,765 per ten gram, with an open interest of 1,598 lots.

Similarly, the metal for delivery in August contract declined by Rs 29, or 0.15 per cent to Rs 18,707 per ten gram, with a business turnover of 18,809 lots.

Marketmen said profit-selling by speculators at existing higher levels mainly led to a fall in gold prices at futures trade.

 

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First Published: Jun 14 2010 | 1:46 PM IST

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