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Gold falls by 0.3% as US rate hike comes into focus

Speculators reduced their bets amid a weak global trend

Press Trust of India New Delhi
Gold futures prices today fell 0.27% to Rs 25,825 per 10 grams as speculators reduced their bets amid a weak global trend.

In futures trading at Multi Commodity Exchange, gold prices for delivery in October fell Rs 70, or 0.27%, to Rs 25,825 per 10 grams in a business turnover of 289 lots.

Similarly, metal prices for delivery in far-month December declined Rs 59, or 0.23%, to Rs 26,036 per 10 grams in five lots.

Market analysts said the fall in gold futures is mostly attributed to trimming of positions by speculators, tracking a weak trend overseas as investors turned their attention back to the timing of US interest rate hike after China signalled support for its currency.
 

Meanwhile, gold traded 0.1% lower at $1,113.02 an ounce in Singapore today.

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First Published: Aug 14 2015 | 11:42 AM IST

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