Silver also plummeted on the back of sluggish industrial demand.
Standard gold (99.5 purity) declined by Rs 175 to end at Rs 27,035 per 10 grams compared with Tuesday's closing level of Rs 27,210.
Pure gold (99.9 purity) shed by Rs 170 to finish at Rs 27,185 per 10 grams from Rs 27,355.
Silver (.999 fineness) went down by Rs 360 to conclude at Rs 37,800 as against Rs 38,160 yesterday.
On the global front, the yellow-metal traded almost flat after highly volatile trade amid investors caution triggered by a rout in other commodities such as oil and copper.
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