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MCX Bullions tips: Bullion bites the dust on Fed rate hike jitters

Gold futures sank more than 1.3 % in the national market on Wednesday as investors and speculators exited positions in the bullions tracking a weak trend in the overseas market as stronger than expected US labour market data bolstered the case for the US Federal Reserve to begin tightening interest rates for the first time since 2006, souring the lure for Gold as a store of value.

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