Gold, silver drop three-week low on subdued demand
Silver also witnessed heavy speculative selling pressure to register 58K per kg-level on the back lower industrial demand.
Standard gold of 99.5 per cent purity dipped by Rs 210 per 10 gm to close at Rs 30,365 from last Friday's closing level of Rs 30,575.
Pure gold of 99.9 per cent purity also slid by a similar margin of Rs 210 per 10 gm to finish at Rs 30,505 from Rs 30,715.
Silver ready (.999 fineness) tanked by a hefty Rs 1,355 to conclude at Rs 58,150 per kg compared to Rs 59,505 previously.
"Gold is finding lack of buying support since import duty hike other than bearish global situation," dealers said.
In Europe, gold eased on investors' cautiousness ahead of much-awaited US Federal Reserve meeting, which would disclose details over Fed's quantitative easing policy.
Spot gold bid down at USD 1,656.40 an ounce in early trade and spot silver also bid lower at USD 30.96 an ounce.
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