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    Gold price falls amid profit booking at higher levels

    Gold price falls amid profit booking at higher levels

    Gold price falls amid profit booking at higher levels
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    By Ankit Gohel   IST (Updated)

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    Gold prices in India traded lower on the Multi Commodity Exchange (MCX) Thursday dragged by profit booking after price rallies in recent days.

    Gold prices in India traded lower on the Multi Commodity Exchange (MCX) Thursday dragged by profit booking after price rallies in recent days.
    At 9:10 am, gold futures for April delivery fell 0.43 percent to Rs 43,382 per 10 grams as against the previous close of Rs 43,569 and opening price of Rs 43,502 on the MCX.
    “The gold prices have seen a massive rally in recent days on strong fundamentals. However, the rally in the yellow metal prices may not sustain as we expect profit booking at higher levels,” said Ajay Kedia, director, Kedia Commodity Comtrade.
    International gold prices were little changed as stronger equities and upbeat US data countered fears over the economic impact of the fast-spreading coronavirus.
    The rupee opened lower against the US dollar at 73.37 per dollar as compared to the previous close of 73.20 per dollar.
    Meanwhile, silver futures traded 0.36 percent lower at Rs 46,517 per kg. The prices opened at Rs 46,563 as compared to the previous close of Rs 46,683 per kg.
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