Gold prices ease, triggers buying

Gold prices ease, triggers buying

The benchmark February gold contract extended losses for a third day to its one-week low of 17,301 rupees, a level last seen on Nov. 30.

The contract last traded at 17,338 rupees per 10 grams, down 1.40 percent at 2:10 p.m., after losing 3.3 percent in the last two sessions.

"I have plenty of orders in the range of $1,140-1,145 an ounce," said another dealer with a state-run bullion dealing bank.

However, the weak Rupee, which makes the dollar-quoted asset expensive, weighed on sentiment, traders said.

The Rupee dropped tracking the dollar's gains against major units post the non-farm payroll data while a seesawing domestic sharemarket failed to provide clarity on foreign fund flows.

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