Gold price fell Rs 105 to Rs 56,160 per 10 grams in the national capital on Tuesday, according to Securities. The yellow metal had ended at Rs 56,265 per 10 grams in the previous trade.
Silver also tumbled Rs 833 to Rs 68,725 per kilogram.
“Comex gold prices traded flat in Asian hours on Tuesday after the price surged to an eight-month high on Monday, sentiment supported by a drop in the US dollar,” said an analyst at HDFC Securities.
In the overseas market, gold was trading flat at USD 1,872 per ounce while silver was down at USD 23.47 per ounce. “Gold prices traded steady after inching higher hovering around the seven weeks high as investors largely focus on US Fed Chair Jerome Powell’s speech for insights into the central bank’s rate hike path,” Navneet Damani, Senior VP – Commodity Research at , said.