Spot gold declined in today's trade, after climbing marginally this week. Gold on MCX for October delivery opened at Rs 29,797 per 10 grams and was seen trading at Rs 29,805 per 10 grams at 2.20 pm IST.
Similarly, the metal for December contract delivery was seen trading at Rs 30,152 per 10 grams.
MCX spot gold slipped and was trading at Rs 29,641 per 10 grams, while spot silver fell to Rs 52,679 per kg.
While, silver for September delivery on MCX opened at Rs 53,399 per kg and was trading at Rs 53,236 lower by Rs 132.
US spot gold was seen hovering at $1,609 an ounce. Europe's trouble continues as ratings agency Standard & Poor's has revised Greece's outlook to negative.
However, investors are cautious against taking any major move, as the direction still seems to be unpredictable due to uncertainties over the global economies and volatility in currencies.