Gold and Silver prices fell on Tuesday by Rs 199 to Rs 39,347 per 10 gram and Rs 497 to Rs 45,946 per kg in futures respectively, as participants cut down their positions in line with a weak overseas trend.
On the Multi Commodity Exchange (MCX), gold prices for delivery in February fell by Rs 199, or 0.50 per cent, to Rs 39,347 per 10 gram in a business turnover of 2,641 lots.
The yellow metal for April delivery slumped Rs 208, or 0.52 per cent, to Rs 39,500 per 10 gram in 254 lots. Analysts said subdued overseas cues influenced sentiment here.
On the other hand, Silver contracts on MCX for March delivery tumbled Rs 497, or 1.07 per cent, to Rs 45,946 per kg in a business turnover of 5,506 lots.
Besides, the white metal to be delivered in May fell by Rs 498 to Rs 46,493 per kg in 142 lots.
Globally, gold was trading 0.75 per cent lower at USD 1,538.90 an ounce and silver prices traded 1.31 per cent lower at USD 17.76 an ounce in New York.
(With input from agencies)