Standard gold was hit the most in Kolkata where it lost Rs 300 at Rs 9,695 followed by Delhi by Rs 270 at Rs 9,600 per ten gram respectively. In Mumbai, it fell by Rs 250 at Rs 9525 and in Chennai by Rs 220 at Rs 9670.
Silver recorded maximum fall of Rs1015 at Rs19,240 per kilo follwed by in Delhi by Rs600 at Rs18,700. It lost Rs 560 at Rs 18,760 in Mumbai and Rs 450 at Rs 18,200 in Kolkata.
Trading activity dampened on reports that gold in Asia has declined as dollar gained against other leading currencies like euro, reducing the appeal of the precious metal as an alternative asset.
The dollar gained as traders increased bets the Federal Reserve will keep raising interest rates, after minutes of its latest meeting were released on Wednesday.
Gold might be affected more as the metal, which fell by $10.07 to $635.13 an ounce in Asia, recorded further losses to quote at $620 in London. It shed 11 per cent from a 26-year high of $730.40 on May 12.
The market also weakened in the absence of any retail buying due to off marriage and festival season.
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