Silver also declined for the second consecutive session by Rs 120 to Rs 43,740 per kg on reduced offtake by jewellers and industrial units.
Traders said sustained selling by stockists on the back of sluggish demand mainly kept pressure on precious metals.
Weak global trend, where gold traded below $1200 as investor holdings retreated and US equities climbed to a record high amid signs of an improving economy, further dampened the sentiment, they said.
Gold in Singapore, which normally sets price trend on the domestic front, traded at $1,199.10 an ounce and silver dropped 0.5 per cent to USD 19.37
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