On Tuesday, gold prices across Indian cities slipped after a slight recovery in the equity markets around the world.
In the international market, the precious metal eased after hitting a one-month high in the previous session as US treasury yields and share markets recovered. This reduces the appeal of the bullion as a safe haven metal, pulling its price down.
Spot gold fell by 0.2 percent to $1,319.86 an ounce.
Gold price in Metro cities
Gold price in New Delhi fell to Rs 31,350 per 10 grams of 22 carats. In Mumbai the metal's rate lowered to Rs 31,450 per 10 grams of 22 carats. Similarly prices fell to Rs 30,710 and Rs 31,670 in Chennai and Kolkata respectively on Tuesday.
Bengaluru, Hyderabad, Ahmedabad
Reflecting the global trend, gold rates in Bengaluru, Hyderabad and Ahmedabad also slipped to Rs 30,150, Rs 30,710 and Rs 31,560 respectively per 10 grams of 22 carats.
Silver was trading flat in the international market at $15.54 an ounce. Across Indian cities as well, silver rates remained unchanged at Rs 41,500/kg.