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Yellow Metal Loses its Shine; Trips Up Slightly on Feeble Worldwide Indications

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Yellow Metal Loses its Shine; Trips Up Slightly on Feeble Worldwide Indications

April 29
16:03 2014

goldNew Delhi, Tuesday, April 29 – Cost of the yellow metal lost its footing by 0.45 % to be at the mark of INR 28,840 each ten grams in futures deal today in the course of a pathetic fashion out of the country and profit-booking by investors.

Detailing it further, the precious metal for delivery in the final month of second quarter dipped by INR 130, or 0.45 %, to arrive at INR 28,840 per ten grams in a business turnover of 325 lots at the Multi Commodity Exchange.

In the same way, the metal for August delivery descended by INR 73, or 0.26 %, to INR 28,329 per ten grams in a dozen of lots.

More than a few market analysts stated that in addition to profit-booking by investors, a feeble style in the abroad markets on assumption that the Federal Reserve will further lessen US monetary stimulus for the reason that it kicks off a two-day policy meeting on Tuesday, kept stress on the rates of yellow metal at futures deal.

Internationally, the metal changed hands being down from $1,296.74 at $1,295.69 per ounce in Singapore on the second last day of April month.

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