Gold declines for 3rd day, prices tumble Rs 3,300

New Delhi: Gold’s shine dimmed further on Friday, with prices falling by Rs 3,300 to Rs 1.62 lakh per 10 grams in the national capital as a resurgent US dollar and profit-booking by traders extended bullion’s losing streak to a third session.

The yellow metal of 99.9 per cent purity depreciated by Rs 3,300 to Rs 1,62,400 per 10 grams (inclusive of all taxes) from Thursday’s closing level of Rs 1,65,700 per 10 grams, according to local traders.

The three-day slide has pulled gold down by Rs 4,700, or nearly 3 per cent, from Rs 1,67,100 per 10 grams on August 25, when the precious metal was riding high on a recent rally.

Silver, too, lost ground in the domestic markets, dropping Rs 5,000 to Rs 2,45,500 per kilogram (inclusive of all taxes) from the previous close of Rs 2,50,500 per kg.