Gold prices, March 2 -- Gold prices declined on Friday, February 28, marking their largest weekly drop since November. The strengthening US dollar weighed on bullion as investors looked forward to key US inflation data for clues on the Federal Reserve's monetary policy.

Since the beginning of the year, gold prices have surged by Rs.8,310 or 10.5 per cent, rising from Rs.79,390 per 10 grams on January 1 to the current Rs.87,700 per 10 grams.

Continuing its downward trend for the third consecutive day, silver prices plunged by Rs.2,100, reaching a two-week low of Rs.96,400 per kg. In the previous session, the white metal had settled at Rs.98,500 per kg.

"Gold and silver declined once again due to a strong rebound in the dollar index. The...