The price of 22-karat gold fell to 46,710 rupees for 10 grams on Tuesday from 46,810 rupees and silver dropped to 69,100 rupees per kg, according to the Good Returns website.
The price of gold jewelry varies across India, the second largest consumer of the metal, due to consumption taxes, government taxes and changes.
In New Delhi the price of 22 carat gold fell to 46,800 rupees per 10 grams, in Chennai it fell to Rs 45,070. The price in Mumbai was 46,710 rupees, according to the website.
24-karat gold prices on Tuesday fell from Rs 100 per 10 grams to Rs 47,710 from Rs 47,810 in the previous trading session.
Silver fell 200 rupees per kilogram to 69,100 rupees per kilogram from 69,300 rupees in the previous trade.
The rupee lost some of its initial gains, hovering 6 paise higher at 74.58 (tentatively) against the US dollar on the Monday ahead of key inflation data release.
In the global market, gold fell in lockstep with a stronger dollar on Monday as investors cautiously awaited US inflation data that could affect the Federal Reserve’s schedule for easing its bond purchases.
Spot gold fell 0.2% to $ 1,804.80 an ounce by 1:50 p.m. EDT. US gold futures were down 0.3% at $ 1,805.90.
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