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Gold prices drifted lower by 0.43 per cent to Rs 27,860 per 10 grams in futures trade today as participants indulged in trimming their bets, tracking a weak trend overseas. At the Multi Commodity Exchange, gold for delivery in far-month October was down Rs 121, or 0.43 per cent to Rs 27,860 per ten grams in a business turnover of 17 lots. Similarly, the metal for delivery in August contracts was riding lower by Rs 111, or 0.40 per cent to Rs 27,683 per ten grams in 595 lots. Market analysts attributed the persistent fall in prices to weak trend overseas where gold fell as investors awaited signals from central bank on interest rate hikes. Meanwhile, gold dropped 0.30 per cent to USD 1,210.50 an ounce in Singapore.
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