Gold was trading flat following the US debt deal, with Gold for December delivery trading Rs 28,949. Silver on the other hand was trading Rs 120 lower at Rs 47,252.

Silver dropped marginally in trade and was lower by Rs 120 at Rs 47,252.

Gold and Silver have dropped considerably in the last few days, following hopes that the US Debt deal would be sealed.

Indian spot gold has also fallen in the last few days on a drop in the international prices of gold and also following a drop in the rupee.

Gold is expected to move in a narrow range following the absence of any major triggers. The precious metal is set to end the year with losses for the first time in 12 years, unless there is a dramatic recovery in the next few months in prices. Check gold rates here

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