Gold prices failed to charm after its seven session gains and traded lower during the commencement of ‘Samvat—2069’, a special ‘Muhurat session’, at the domestic bullion market on Tuesday on a modest profit taking by stockists and traders.
According to dealers, the demand for the yellow metal is thin owing to its high prices and also because people are engrossed in celebrations.
Silver also declined on speculative selling after its three—session rally.
Standard gold (99.5 purity) fell by Rs 125 per 10 grams to end at Rs 31,775 from Monday’s closing level of Rs 31,900.
Pure gold (99.9 purity) also eased by Rs 110 per 10 grams to close at Rs 31,925 from Rs 32,035.
Silver ready (.999 fineness) dropped by Rs 280 per kg to conclude at Rs 62,085 as compared to Rs 62,365 yesterday.
In New York, gold ended stable amid doubts over US fiscal worries as well as European debt crisis.
Gold for December delivery ended unchanged at $1,730.90 an ounce, on the Comex division of the NYMEX late yesterday.
Silver for December contract fell by 8 cents to settle at $32.52 an ounce.