On Monday, spot gold prices declined by 0.7 percent to close at $1225.6 per ounce pressured by comments from Federal Reserve Chair Janet Yellen that reinforced expectations of an increase to U.S. interest rates this month. Yellen said last week that the Fed was poised to lift benchmark U.S. rates provided jobs and inflation data held up, comments seen as cementing plans for an increase at the Fed's March 14-15 meeting. On the MCX, gold prices declined by 0.26 percent to close at Rs.28945 per 10 gms .
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