₹47,150 per 10 gram, after a 0.12% slide in the previous session. July silver futures declined 0.6% to ₹47,408, following a ₹900 slide on Friday.
In India, physical demand of gold remained weak even as jewellery stores reopened, promoting dealers to offer discounts of up to $20 an ounce last week over official domestic prices.
Domestic gold prices include 12.5% import duty and 3% GST.In global markets, gold rates moved higher as fears of a second wave of coronavirus infections in China pushed spurred investors towards safe-haven assets like bullion.
Spot gold was up 0.2% at $1,733.45 per ounce, after the precious metal posted gains of over 2.5% in the previous week. Among other precious metals, silver gained 0.4% to $17.52 and platinum.