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Gold falls by 0.3% on weak global cues

The strengthening dollar also weighed on gold prices

Press Trust of India New Delhi
Gold was down Rs 68 to Rs 25,955 per 10 grams in futures trade today amid a weak global trend.

At Multi Commodity Exchange, delivery in October contract of gold fell by Rs 68, or 0.26%, to Rs 25,955 per 10 grams in a business turnover of 20 lots.

Also, the precious metal for delivery in August fell by Rs 56, or 0.22%, to Rs 25,715 per 10 grams, clocking a business turnover of 529 lots.

Analysts attributed the fall in gold futures to a weak global trend after Federal Reserve reiterated that the US interest rates will probably rise this year, eroding demand for the precious metals as a safe haven.
 
Besides, strengthening dollar weighed on the gold prices, they said.

Globally, gold traded at $1,144.96 an ounce in Singapore, its lowest level since November last year.

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First Published: Jul 17 2015 | 12:28 PM IST

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