Gold prices today fell to 50,678 from Rs 54,110 per 10 g a day before, while silver rose to Rs 67,266 from Rs 65,600 per kg, according to the Good Returns website.
Gold jewellery prices vary across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.
In New Delhi, the price of 22-carat gold remained at Rs 49,600 per 10 g, and in Chennai it jumped to Rs 48,860. In Mumbai, the rate was Rs 49,540, according to the Good Returns website. The price of 24-carat gold in Chennai was Rs 53,290 per 10 g and Rs 54,110 in Delhi.
On the MCX, October gold futures fell by 0.10 per cent to Rs 50,690 per 10 g, while silver September futures were up marginally to Rs 67,481 per kg.
Gold prices in India have corrected sharply from their record highs of Rs 56,200 hit last month.
Gold prices were marginally down by Rs 56 to Rs 51,770 per 10 g on Friday in the national capital amid rupee appreciation, according to HDFC Securities.
In the previous trade, it had closed at Rs 51,826 per 10 g. Silver also declined Rs 738 to Rs 68,371 per kg from Rs 69,109 per kg in the previous trade.
“Spot gold prices for 24 karat in New Delhi were marginally down by Rs 56 on rupee appreciation,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.