Spot gold was seen trading at $1,576 an ounce as jewellers and speculators looked for bargains after prices dropped.

Sentiment dampened after George Soros said gold had been destroyed as a safe-haven asset, but that he expected continued central bank buying to support prices.

Also, dollar softening against major currencies also supported the gold prices.

Domestically, gold futures were trading marginally down by Rs 27 at Rs 29,513 per 10 grams at 12.24 pm IST.

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