Zee Media Bureau
Both the precious metals, gold and silver, quoted down in Chennai bullion market Tuesday on subdued buying by stockists amid a weak global trend.
Standard gold price moved lower by Rs 85 to Rs 27,485 per ten grams as against its previous close of Rs 27,570.
Silver also traded down by Rs 540 to Rs 45,125 from Rs 45,665 per kg on decreased offtake by jewellers and industrial units.
Market analysts said a weak trend in the overseas markets on signs that physical purchases may be slowing after prices climbed to the highest since April 15, mainly put pressure on gold prices.
Globally, gold fell 0.7 percent to USD 1,459.60 an ounce in Singapore today.
With PTI Inputs
First Published: Tuesday, May 7, 2013, 13:31