Gold prices edged lower in the national capital on Tuesday, while silver held steady as buying activity remained muted in the domestic market.
Traders said gold of 99.9% purity declined by Rs 200 to Rs 1,59,200 per 10 grams, inclusive of taxes, compared with its previous close of Rs 1,59,400 per 10 grams.
Traders said gold of 99.9% purity declined by Rs 200 to Rs 1,59,200 per 10 grams, inclusive of taxes, compared with its previous close of Rs 1,59,400 per 10 grams.
Silver prices, meanwhile, were unchanged at Rs 2,60,700 per kilogram.
Market analysts attributed the softness in precious metals to improving risk appetite, as easing geopolitical concerns lifted sentiment in equity markets and strengthened the rupee, encouraging investors to shift funds away from safe-haven assets.
At the same time, losses in the domestic market were limited by positive trends overseas. International bullion prices moved higher as worries about energy-led inflation eased, lending support to gold and silver.
In global trade, spot gold was quoted at $4,344.36 per ounce, while spot silver traded at $70.43 per ounce, with both metals gaining nearly 1%.
