Silver also dropped for the third straight day by losing Rs 430 to Rs 41,650 per kg.
Traders said a weakening trend in the precious metals overseas after the Federal Reserve pressed on with cuts to stimulus amid signs of a recovery in the US, reducing demand for the safe haven, mainly put pressure on the gold prices in New Delhi.
Globally, gold in Singapore, which normally sets price trend on the domestic front, fell by 0.2 per cent to $1,282.25 an ounce and silver by 0.3 per cent to $18.97 an ounce.
They said,
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