Gold and silver prices in India slid slightly owing to a downwards trend in global rates with gold futures on MCX slipping to Rs 49,363 per 10 gram.
Silver futures fell 0.6 per cent to Rs 71,832 per kg. In the previous session, gold had risen to over 4-month high of Rs 49,700 per 10 gram. In India, gold rates have jumped about Rs 5,000 in past two months amid global rebound.
In global markets, gold came down after a five-month high as higher US bond yields weighed on precious metal. Strong US economic data also took away some shine off the precious metal.
Spot gold was down 0.1 per cent at $1,898.58 per ounce, after hitting a near 5-month high of $1,916.40 on Tuesday. The dollar also strengthened against other currencies.
Gold watchers would be keenly awaiting the US employment report for May, which will be released on Friday. Also top Fed officials, including Robert Kaplan and Charles Evans, are set to speak today.
Among other precious metals, silver edged 0.1% lower to $27.88, and platinum was steady at $1,191.