Silver also dropped by Rs 400 to Rs 45,000 per kg on reduced offtake by industrial units and coin makers.
Traders said selling by stockists amid a weak global trend as a rally in equities dampened demand for an alternative investment amid concern that physical consumption is faltering mainly influenced the sentiment.
Gold in Singapore, which normally sets price trend on the domestic front, fell by 0.7 per cent to $1,294.98 an ounce, the lowest since July 16 and silver by 0.6 per cent to $ 20.79
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