Gold prices fall for fifth consecutive day amid weak global cues

On Tuesday, Gold prices fell for fifth consecutive day amid weak global cues. Gold prices fell to Rs 37,766.

On the Multi Commodity Exchange, gold contracts for February delivery traded lower by Rs 4, or 0.01 per cent, at Rs 37,579 per 10 gram in a business turnover of 1,647 lots.

However, the metal for April delivery was trading higher by Rs 9 at Rs 37,662 per 10 gram in 2,236 lots. Analysts attributed the fall in gold prices to trimming of positions by participants. Globally, gold traded 0.26 per cent higher at USD 1,468.70 an ounce in New York.

The gold prices fell following China's move to waive off import tariffs on certain US goods and on the back of better-than-expected US jobs numbers which weighed down on precious metals.

(Inputs from Agencies)

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