Gold prices today fell 290 rupees at Multi Commodity Exchange for October contracts. The precious metal was trading at 50,125 rupees per 10 grams.

Silver prices also declined 835 rupees to 51,725 rupees per kilogram for September Contracts when reports last came in.

In the New York Mercantile Exchange, gold was trading down at 1,712 US dollars per ounce. Silver was also down 17 dollars and 60 cents per ounce in intra-day trade.