Silver also maintained a downward trend for the ninth day and lost Rs 550 to Rs 43,400 per kg on poor offtake by industrial units and coin makers.

Traders said besides sustained selling by stockists against subdued demand, strengthening rupee led to persistent fall in prices.
    
It fell further on weakening global trend as signs of recovery in US economy reduced demand for the precious metals as safe haven.
    
Gold in London, which normally sets price trend on the domestic front, fell by 0.87 percent to USD 1,294.40 an ounce and silver by 0.33 percent to USD 19.67 an ounce.
    
Investors shifting their funds from weakening bullion to soaring equities too had a negative impact on the prices, they added.
    
On the domestic front, gold of 99.9 and 99.5 percent purity remained under selling pressure and fell further by Rs 230 each to Rs 29,350 and Rs 29,150 per ten grams, respectively. The yellow metal had lost Rs 770 in last three sessions.
    
Sovereign followed suit and declined by Rs 100 to Rs 24,900 per piece of eight grams.
    
Silver ready moved down by Rs 550 to Rs 43,400 per kg and weekly-based delivery by Rs 670 to Rs 42,900 per kg. The white metal had lost Rs 3,250 in the precious eight days.
    
Silver coins dropped by Rs 1,000 to Rs 81,000 for buying and Rs 82,000 for selling of 100 pieces.

Gold declines to six-week low on outlook for less US stimulus
    

On Thursday, Gold fell to the lowest price in six weeks as signs of recovery in US boosted the case for the Federal Reserve to keep reducing stimulus and start to raise interest rates.
    
Gold dropped 0.8 percent to USD 1,294.60 an ounce. It reached USD 1,291.61, the lowest since February 13. Silver also fell 0.5 percent to USD 19.66 an ounce, after reaching a seven-week low of USD 19.57.
    
US orders for durable goods climbed a more-than-forecast 2.2 percent in February, reflecting the biggest gain in automobile demand in a year, data showed on Wednesday.
    
Fed Chair Janet Yellen said March 19 the Central Bank's debt-buying program may end this fall and the first increase in the benchmark rate may come six months after that.

JPN/Agencies

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