On Tuesday, the Federal Reserve came up with the statement that the US labor market was improving as investors who were hoping for monetary stimulus were disappointed. Interest rates were kept untouched as the US economy was seen recovering.
Similarly, the metal for June contract delivery was seen trading at Rs 28,010 per 10 grams lower Rs 221.
MCX spot gold slipped more than Rs 200 and was trading at Rs 27,412 per 10 grams, while spot silver fell by more than Rs 500 to Rs 56,625 per kg.
Dpmestic gold rate also fell, gold of 99.9 and 99.5% was at Rs 27,890 and Rs 27,750 per 10 grams, respectively.
While, silver for March delivery on MCX opened at Rs 58,200 per kg and was trading at Rs 58,023 per kgs down Rs 236.
Us spot gold was seen at $1,664 an ounce.