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Gold was trading Rs 10 lower at Rs 26,143 per 10 gm at mid-day on the Multi Commodity Exchange as a stronger dollar and likely extension of Greece’s bailout programme weighed on the sentiment.
Gold normally moves inversely to the dollar.
The metal has been on a slide since it hit a closing high of Rs 28,187 on January 20.
But despite the recent fall in price, consumers have held back purchases in anticipation of an import duty cut from the current 10%.
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Posted in: Indian Market Tips
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