However, silver held steady in the absence of buying support.
Standard gold (99.5 purity) slid by Rs 30 to finish at Rs 28,340 per 10 grams from yesterday's closing level of Rs 28,370.
Pure gold (99.9 purity) also moved down to end at Rs 28,490 per 10 grams as compared to Rs 28,520.
Silver (.999 fineness) closed unchanged at Rs 36,990 per kilo.
Globally, gold rose today as a drop in equities boosted its appeal as an alternative asset, and headed for its biggest quarterly gain in nearly 30 years as expectations that the Federal Reserve would press ahead with interest rate hikes receded.
Silver was up 0.7 percent at USD 15.36 an ounce.
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