Gold and silver price declined in the domestic market today in India also due to weak global trends. Gold futures on MCX fell 0.03 percent to Rs 48,501 per 10 grams, while silver futures fell 0.5 percent to Rs 59,570 per kg.
In the previous session, the price of gold slipped 0.11 percent and silver ended flat. In line with the fall in global rates, gold rates in India have come down by about Rs 1,700 per 10 grams in the last five days.
In the global markets, gold fell 0.3 percent to $ 1,810.44 an ounce. Among other precious metals, silver fell 0.9 percent to $ 23.25 an ounce, while platinum fell 0.1 percent to $ 961.18 and palladium gained 0.3 percent to $ 2,391.19.
India is the second-largest buyer of gold after China. In India, gold attracts a 12.5 percent import duty and a three percent GST.