Gold prices on Wednesday slipped by Rs 30 to Rs 27,020 per ten grams as a result of profit-selling by stockists in the bullion market. On the other hand, Silver prices rose due to high demand from industrial units and added Rs 100 to Rs 44,300, after a surge of Rs 2,030 in the previous session.

In the wake of falling global prices of precious metals, the government on Wednesday further slashed the import tariff value of gold to USD 440 per ten grams, while it has been kept unchanged at USD 761 per kg for silver imports.

Gold prices on Tuesday jumped sharply by Rs 680 to Rs 27,050 per ten grams in the bullion market here on heavy buying by stockists and retail customers amid a sharp rebound on the global front.

Gold prices recovered by Rs 70, or 0.27 percent to Rs 26,274 per 10 grams in futures trade as speculators created fresh positions taking positive cues from the global market.

Gold on Monday fell to its lowest level in 21 months and silver hit a 31-month low on heavy sell off by stockists, taking weak cues from overseas.

Gold prices on Monday fell by Rs 399, or 1.54 percent, to Rs 25,556 per ten grams in futures trade in line with weak overseas trends.

Gold prices fell by Rs 110 to Rs 26,700 per ten grams in the national capital on Saturday on reduced offtake against stockists selling sparked by a weak global trend.

After two days of steep fall, gold prices recovered by Rs 10 to Rs 26,810 per 10 grams in the national capital on Friday on low level buying by retailers.

The government has slashed the import tariff value of gold and silver to USD 466 per ten grams and USD 761 per kg, respectively, considering weak global price trend. Tariff value is the base price on which the customs duty is determined to prevent under-invoicing.

Gold futures prices on Friday fell by 0.31 percent to Rs 26,050 per 10 grams as participants indulged in reducing exposures, largely in tandem with a global trend where the metal dipped to one-month low.