MUMBAI (Reuters) - Indian gold futures fell 1.5 percent on Thursday, extending losses for a second straight session, to hit their lowest level in nearly a month in line with global markets. * The actively traded gold for June delivery on the Multi Commodity Exchange (MCX) was 400 rupees lower at 25,910 rupees per 10 grams at 3:36 p.m., after hitting a low of 25,898 rupees, a level last seen on April 20. * A weaker rupee limited the downside in prices. The rupee plays an important role in determining the landed cost of the dollar-quoted yellow metal. * In the physical market, wholesalers tried to clear their old stocks, with a huge premium, after the central bank banned imports through consignment basis. * "After the RBI notification, we have stopped importing on consignment basis. We are trying to explore new ways to import, like on loan basis and unfixed basis," said a dealer with a private bank in Mumbai. * Premiums charged on spot prices of the yellow metal were at 750-1,200 rupees per 10 grams, as against 500-600 rupees last week. * Elsewhere, premiums for gold bars rallied to all-time highs in Hong Kong and Singapore on supply constraints. * Silver for July delivery on the MCX was 898 rupees lower at 42,416 rupees per kilogram.

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