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Gold prices on Tuesday dropped by ₹419 to ₹1,46,385 per 10 grams in futures trade amid a fall in spot demand.
On the Multi Commodity Exchange, yellow metal contracts for December delivery traded lower by ₹419, or 0.29 per cent, at ₹1,46,385 per 10 grams in a business turnover of 1,608 lots.
Analysts attributed the decline in precious metal prices to weaker spot demand.
Globally, gold futures rose by 0.23 per cent to $4,125.32 per ounce in New York.