Turning lower for the second day, gold prices fell Rs 45 per 10 grams today, reflecting a weak trend overseas amid muted demand from jewellers.
Silver also dropped on reduced offtake by industrial units.
Standard gold (99.5 per cent purity) saw a price decline of Rs 45 to end at Rs 28,930 per 10 grams. Pure gold (99.9 per cent purity) also eased by the same margin to close at Rs 29,080.
Silver (.999 fineness) declined by Rs 75 per kg to finish at Rs 38,870.
Globally, gold prices cracked under pressure from a stronger dollar ahead of an annual meeting of central bankers this week while speculative buying pushed palladium to its highest since February 2001.
Spot gold was down 0.4 per cent at USD 1,285.21 an ounce in early trade.
Silver fell 0.1 per cent to USD 16.95 an ounce.
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