Taking global cues spot gold and silver prices down in the domestic market in the morning trading. The 999 purity gold edged low by Rs 95 to Rs 28585 per 10 gm, while the price of 995 purity gold declined by Rs 95 to Rs 28435 per 10 gm compared to yesterday's ending prices.
Silver prices also fell by Rs 185/kg to Rs 41,195/kg.
Talking to ET, Surendra Mehta, national secretary, India Bullion & Jewellers Association said "Gold and silver prices have been hit by a price decline in the international market and increase of INR today morning".
In the international market, gold prices edged lower on Tuesday, failing to break a key resistance but hovered near a two-week high hit in the previous session on prospects of a less-hawkish Federal Reserve policy. The Fed is likely to wait at least until June policy meeting to decide whether to hike interest rates, Chicago Fed President Charles Evans had said on Monday, according to media reports.
Spot gold was down 0.4 % at $1,228.61 per ounce, as of 0556 GMT. In the previous session, it touched its strongest since March 6 at $1,235.50.U.S. gold futures fell 0.4 % to $1,228.60.
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