Gold drops to 3-year low

Mumbai-India (July 19)   Gold prices pulled back after a sharp two-day advances in the bullion market here on Saturday due to reduced demand from jewellery traders as well as modest profit taking in the midst of lacklustre overseas sentiment.

Silver also moved down owing to poor offtake by industrial units and coin makers.

Standard gold (99.5 purity) fell by Rs 55 to finish at Rs 28,030 per 10 grams from Friday's level of Rs 28,085.