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Spot gold prices declined around 0.7 percent yesterday on the back of declining trend in SPDR gold holdings. Further, weak global market sentiments on the back of rising concerns regarding US debt ceilingexerted downside pressure on prices.However, sharp downside in the prices was cushioned as result of weakness in the DX. The yellow metal touched an intra-day low of$1322.95/oz and closed at $1326.90/oz in yesterday’s trading session.
In the Indian markets, gold prices traded lower by 1 percent and closed at Rs.30,425/10 gms after touching an intra-day low of Rs.30,160/10 gms on Monday.