According to HDFC Securities, gold prices fell by ₹130 to ₹56,680 per 10 grams in the national capital on January 17 amid a weak global trend.
In the previous trade, the precious metal had closed at Rs 56,810 per 10 grams.
Silver also declined by Rs 232 to Rs 69,793 per kg.
An analyst at HDFC Securities said, “Gold prices in Delhi markets are trading at ₹ 56,680 per 10 grams, up ₹ 130 per 10 grams.”
In the overseas market, gold and silver were trading in the red at $1,911 an ounce and $24.03 an ounce, respectively.
Analyst said COMEX gold prices traded lower in Asian hours on Tuesday as short-term future traders booked profits after the recent rally.
“The focus this week will be on the Bank of Japan’s policy meeting on Wednesday, after the central bank unexpectedly struck an accommodative tone during its December meeting,” said Navneet Damani, senior VP of commodity research at Motilal Oswal Financial Services.