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Gold futures prices declined by Rs 191 or 0.69 per cent to Rs 27,474 per 10 grams today as speculators booked profits at existing higher levels amid a weakening trend in the Asian region.
At the Multi Commodity exchange, gold for delivery in February fell Rs 191 or 0.69 per cent to Rs 27,474 per 10 grams with a business turnover of 3,174 lots. Similarly, the metal for delivery in far-month April lost Rs 174 or 0.62 per cent to Rs 27,848 per 10 grams with a trade volume of 268 lots.
A weakening trend in the Asian region on signs that Europe’s debt crisis was easing curbed the demand for the precious metal as an alternative investment, analysts said.
Meanwhile, gold dropped 0.5 per cent to $1,61.57 an ounce in the early trade today in Singapore.
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