Gold prices in India plummeted on Tuesday at the Multi Commodity Exchange (MCX) and prices fell internationally. Silver prices have also fallen by 1 percent.
At 10:50 am, gold futures fell 0.48 per cent to Rs 50,860 per 10 grams, and was at an early level of Rs 50,870 on MCX. Silver futures fell 0.83 percent to Rs 62,577 per kg.
The fall in the dollar was seen in the US amid uncertainty over the economic stimulus package in the US. Ajay Kedia, director of Kedia Commodity Comrade, said silver prices fell after yesterday's gain.
Gold prices fell internationally on Tuesday. Spot gold fell 0.6 percent to $ 1,910.76 an ounce. US gold futures closed down 0.3 percent at $ 1,923.