New Delhi, Aug. 29 -- a Rs.289 decline from Friday's close - as the dollar strengthened following Federal Reserve Chair Kevin Warsh's unexpectedly hawkish remarks at the Jackson Hole economic symposium in Wyoming.

The single-day drop, the sharpest since early August, erased roughly 1.8% of gold's value in Indian retail markets. Saturday is a non-MCX trading day, meaning domestic retail prices are set against Friday's international close, amplifying any overnight move. The retreat, however, comes within a broader surge: according to Goodreturns, gold has gained more than 29% year-over-year in rupee terms and 10% in August alone - on pace for its best monthly performance since January.

Today's indicative retail gold rates for August 29, 2...