Prices down 45 paise with a business turnover of 21 lots
In Singapore, gold traded 0.4% lower at $1,658.30 an ounce
The August contract shed Rs 3.10, or 0.33%, to Rs 1,310.10 per kg in 1,107 lots
The September contract dropped by Rs 570, or 0.95%, to Rs 57,469 per kg, with a business turnover of 11,040 lots
Milk production in India, the world's biggest producer, is estimated at over 121 million tonnes in 2011
Gains may be limited by worries that hurricane damage could prompt refiners to cut crude oil purchases
Investors are also eyeing the rupee's movement, which plays an important role in determining the landed cost
But, overall production may not exceed last year's as erratic rainfall could hit yield
Shares of most firms drop 4-24% since April, Sensex up 1%
Call by G7 to hike output influences prices
Bernanke is set to keep markets guessing about the timing of another round of bond purchases
Decline in area under cultivation influences prices
Festive demand, deficient rains help rise
Thin supplies restrict losses
Restricted arrivals influence prices
Concerns that Chinese demand is slowing influences prices
Subdued demand, adequate stocks influence prices
Subdued demand contributes to downtrend