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Yellow Metal Keeps Losing Shine; Drops 0.11%

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Yellow Metal Keeps Losing Shine; Drops 0.11%

July 30
15:24 2014

gold futuresNew Delhi, Wednesday, July 30 – In view of the fact that investors cut their exposures in the midst of a fragile worldwide fashion, gold futures lost its grip by 0.11% to tap at INR 27,835 each ten gm on July 30 following feeble fashion out of the country.

Detailing it further, the yellow metal for next month delivery skidded by INR 31, or 0.11%, to arrive at INR 27,835 per ten gm in the total sales of 525 lots at the MCX. Following the same track, the gold for delivery in the first month of last quarter dipped slightly by INR 6, or 0.02 %, to hit INR 27,940 per ten gm in 113 lots.

Above and beyond, more than a few analysts mentioned that the drop in yellow metal futures by and large matched to a feeble style abroad. For the time being, rates of precious metal lost its footing by 0.03% in order to change hands at one-week trough of $1,299.40 per ounce in Singapore on Wednesday.

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