Gold prices slipped at the domestic bullion market in Mumbai on Tuesday after a three-session upsurge on emergence of fresh profit-taking by stockists and investors amid reduced jewellery offtake following weak global cues.
Silver dropped further owing to subdued speculative activity as well as lower industrial support.
Standard gold of 99.5% purity slid by Rs 150 to finish at Rs 27,720 per 10 grams from Monday's closing level of Rs 27,870.
Pure gold of 99.9% purity also lost by a similar margin to conclude at Rs 27,850 per 10 grams from Rs 28,000.
Silver ready (.999 fineness) shed by Rs 400 per kg to close at Rs 57,830 as compared to Rs 58,230 on Monday.
In Europe, gold fell below the $1,700 an ounce mark as speculators turned bit cautious ahead of US monetary policy meet later today amid firming dollar.
Spot gold was bid at $1,694.79 an ounce in early trade and silver was down at $33.52 an ounce.