Gold prices today slipped 285 rupees at Multi Commodity Exchange for August contracts. The precious metal was trading at 58,430 rupees per 10 gram. Silver also declined 660 rupees to trade at 68,660 rupees per kilogram for July Contracts when reports last came in.
 
In the global markets, Gold was trading down at 1,935 dollars and 50 cents per ounce at the New York Mercantile Exchange. Silver also declined to trade around 22 dollars and 80 cents per ounce in the intra-day session.