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Thursday, June 16, 2011

Gold Futures Eased on Wednesday

Gold futures eased on Wednesday following losses in overseas markets, and demand in the domestic spot market remained muted as farmers were busy with sowing operations, dealers said.

International gold slipped on Wednesday as a stronger dollar prompted a flurry of sales, but investor buying sparked by sovereign debt concerns and inflationary pressures.

Jewellers across Asia rushed to replenish stocks after a recent drop in gold prices, but main consumer India showed little interest as farmers turned their attention to their crop during the monsoon season, dealers said on Tuesday.

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