Silver prices declined at the bullion market here today on moderate offerings by stockists and speculators on the back of almost flat European cues. Gold also softened in a limited trade owing to subdued local buying interest.
Silver ready (.999 fineness) fell by Rs 105 per kg to end at Rs 54,565 from Tuesday's closing of Rs 54,670. Standard gold (99.5 purity) looked down by Rs 5 per 10 grams to close at Rs 22,505 as against Rs 22,510 previously.
Pure gold (99.9 purity) also went down by a similar margin to settle at Rs 22,605 per 10 gram from Rs 22,610 yesterday.
In Europe, the precious metals witnessed a lacklustre trading ahead of a meeting of the US Federal Reserve. Spot gold was bid at $1,545.86 an ounce in early trade as against $1,546.45 late in New York on Tuesday. Silver was bid at $36.36 an ounce from $36.30.