Marketmen said the buying activity was restricted as prices surged in last two sessions after the budgetory proposals almost doubled the import duty on silver and gold.
Presenting the Union Budget on Monday, the government announced increasing import duty on gold bars from Rs 100 per 10 gram to Rs 200 per 10 gram
The trading activity was almost negligible and failed to take any negative impact of reports of the precious metal in Asia fell for a third day as the dollar advanced against the euro and crude oil tumbled.
Investors, who planned to purchase gold after budget on expectations of some sop to the industry, further postponed their decision, said Suresh Jain of All India Sarafa (Bullion) Bazar Association.
He said some traders parked their funds in volatile equity markets in purchasing fundamentally strong shares.
Standard gold and ornaments held unchanged at Rs 14,780 and Rs 14,630 per ten gram respectively. Sovereign held unchanged at rs 12,325 per piece of eight gram.
Silver ready fell by Rs 100 at Rs 21,900 per kg and weekly-based delivery by Rs 110 to Rs 21,740 per kg. Silver coins held unchanged at Rs 28,900 for buying and Rs 29,000 for selling of 100 pieces.
