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Gold has come down on Monday after registering it strongest weekly rise in four years as stock markets bounced back. Gold peaked at $1260.60 on Thursday which is the metal's highest gain since February 6, 2015. 
  Gold futures today fell Rs 241 to Rs 28,449 per 10 grams as participants indulged in cutting their bets amid a weak global trend.
Besides, continued profit-booking by speculators at prevailing levels also weighed on gold prices.
    At the Multi Commodity Exchange, gold prices for delivery in April contracts plunged Rs 241 or 0.84% to Rs 28,449 per 10 grams in business turnover of 267 lots.


Crude Oil bounced back sharply from support at $26.50 and is likely to trade higher with a positive bias. While the fundamentals have not changed much – the production continues to remain steady from both US and OPEC members, there are early signs on US production having peaked. Even if the production were to decline from the US, the Iranian supply should balance out the equation.

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