Silver also suffered heavily in line with gold. Standard gold (99.5 purity) opened sharply weak at Rs 8,520 and fell further due to increased offering, before ending at Rs 8,500, showing a notable loss of 1.79 per cent over the last weekend close of Rs 8,655.
Pure gold also crashed by a similar margin to Rs 8,550 from Rs 8,705.
In the international market, gold fell by $9.41 to $571.74 per ounce as rising dollar reduced the appeal on the yellow metal as an alternative investment, dealers said.
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