Gold price declines Rs 260; Silver down by Rs 900

Gold price today declined 260 rupees at Multi Commodity Exchange for February contracts. The precious metal was trading at 55,500 rupees per 10 gram. Silver also down 900 rupees to trade at 68,415 rupees per kilogram for March Contracts when reports last came in. In the New York Mercantile Exchange, gold was trading down at 1,855 dollars and 50 cents per ounce. Silver was also down at around 23 dollars and 65 cents per ounce in intra-day trade.