Gold traders shun new deals, see fresh price dips

Gold traders refrained from placing fresh deals on Tuesday, expecting more price falls, dealers said.

The most-active gold for April delivery on the Multi Commodity Exchange (MCX) was 0.08% lower at Rs 27,914 per 10 grams.

"Demand is still zero as prices are still a little bit higher," said Haresh Acharya, head of bullion desk at Parker Bullion in Ahmedabad.

A stronger rupee also weighed, as it plays a key role in determining the landed cost of the dollar-quoted yellow metal.

Silver too fell on Tuesday, with March delivery on the MCX down 0.56% at Rs 56,109 per kg.