Gold prices dropped in futures trading today, losing 1.57 per cent as traders released part of their holdings on weakening overseas trends.
The precious metal for delivery in April lost 1.57 per cent to Rs 14,177 per 10 gram on the Multi Commodity Exchange of India (MCX) in a trading volume of 11,170 lots, while February gold shed 1.51 per cent to Rs 14,234 per ten gram in 1,758 lots.
The contract for lost 1.49 per cent to Rs 14,179 per 10 gram in a trading volume of 326 lots.
Trading activity turned bearish as the metal dropped in Asia on speculation that its rally to a three-month high prompted by investors who sought an alternative investment amid the global recession was overdone.
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