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Gold prices moved down by 0.25% to Rs 28,960 per 10 gm in futures trade today after participants offloaded partial positions, taking weak cues from the global market.
At the Multi Commodity Exchange, gold for delivery in February declined by Rs 74, or 0.25%, to Rs 28,960 per 10 gm in business turnover of 1,326 lots.
Likewise, the metal for delivery in April shed Rs 47, or 0.17%, to Rs 28,363 per 10 gm in 85 lots.
Market analysts said a weak trend in the overseas markets as speculation that the Federal Reserve will continue reducing monetary stimulus, mainly put pressure on the gold prices at futures trade here.
Globally, gold traded lower at USD 1,242.23 an ounce in Singapore today.
