It seems that there is steady future for gold price. The most-traded October gold contract was 0.12 percent lower at 15,580 rupees per 10 grams at 12:08 p.m. The contract fell to a low of 15,550 rupees , a level last seen on Sept. 10.

The dollar rallied broadly as short-covering gathered pace a day after major central banks jointly announced steps to scale back massive injections of the U.S. currency.