The prices of gold declined as the dollar steadied amid caution ahead of the much awaited OPEC meeting in Vienna on Wednesday to cut crude oil production.

At the MCX, silver futures for December 2016 contract is trading at Rs 40580 per kg, down by 0.23 per cent, after opening at Rs 40151, against a previous close of Rs 40672. It touched the intra-day low of Rs 40114.

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