Gold prices gave up Rs 100 to hit Rs 28,450 per 10 grams on Tuesday, hit by a subdued trend overseas and falling domestic demand due to the cash crunch sparked by demonetisation.
Silver, however, strengthened by Rs 100 to Rs 41,500 per kg on increased offtake by industrial units and coin makers. Traders said the global weakness of gold can be explained by a firming dollar ahead of the two-day US Federal Reserve meet.