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Gold futures drop marginally on weak global cues

Gold futures on Thursday fell 0.75 per cent to Rs 46,776 per 10 gram as participants offloaded their holdings following weak trend overseas.

On the Multi Commodity Exchange, gold prices for the June delivery fell by Rs 355, or 0.75 per cent, to Rs 46,776 per 10 gram in a business turnover of 2,854 lots.

The yellow metal for the August delivery declined by Rs 403, or 0.85 per cent, to Rs 46,937 per 10 gram in 10,663 lots. In New York, gold was trading 1.03 per cent down at USD 1,734.10 per ounce.

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