After yesterday's surge, gold declined by Rs 55 per ten grams at the bullion market today, owing to slackened demand from jewellers and retailers.
Silver also dropped due to reduced offtake by industrial units.
Standard gold (99.5 purity) slid by Rs 55 to finish at Rs 29,140 per 10 grams from yesterday's closing level of Rs 29,195
Pure gold (99.9 purity) also fell to end at Rs 29,290 per 10 grams as compared to Rs 29,345 earlier.
Silver (.999 fineness) declined by Rs 100 per kg to finish at Rs 42,940 from Rs 43,040 yesterday.
Globally, gold edged up as the dollar crept lower after US President Donald Trump's national security adviser Michael Flynn quit and investors awaited testimony from US Federal Reserve Chair Janet Yellen.
Spot gold was up 0.3 percent at USD 1,228.36 per ounce at early trade.
Spot silver climbed 0.5 percent to USD 17.87. The metal hit its highest since Nov 11 at USD 18 on Monday.
Disclaimer: No Business Standard Journalist was involved in creation of this content
