Gold slips below Rs 30,000-mark on weak global cues

Silver also followed suit and dropped below the crucial Rs 38,000-mark by tumbling Rs 765 per kg on poor offtake by industrial units.

Standard gold (99.5 purity) dropped by Rs 380 to close at Rs 29,855 per 10 grams from Wednesday's level of Rs 30,235.

Pure gold (99.9 purity) also dipped by the same amount to finish at Rs 30,005 per 10 grams as compared to Rs 30,385 yesterday.

Silver (.999 fineness) slumped by Rs 765 per kg to end at Rs 37,670 as against Rs 38,435 previously.

Globally, gold prices dropped for a third straight session and hit a fresh four-week low, as investors liquidated their long positions on a firmer dollar, while expectations of more US rate hike this year also weighed on the market.

Spot gold was down 0.4 per cent at USD 1,312.41 per ounce at early trade.

Among other precious metals, silver was little changed at USD 16.37 per ounce.