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Continuing its losing streak for the third day, gold prices fell by 0.34% to Rs 27,637 per ten gram in futures trading today as speculators engaged in offloading positions, tracking a weak global trend.
At the Multi Commodity Exchange, gold for delivery in August declined by Rs 94, or 0.34%, to Rs 27,637 per ten gram in business turnover of 1,950 lots.
Similarly, the yellow metal for delivery in far-month October lost Rs 71, or 0.26%, to Rs 27,828 per ten gram in 36 lots.
Analysts attributed the fall in gold futures to a weak trend overseas as investors weighed the outlook for the US economy against speculation that a rally to the highest level in two months may spur sales.
Meanwhile, gold shed 0.6% to USD 1,310.70 an ounce in Singapore.
