New Delhi, Nov. 3 -- Gold and silver prices declined in Kolkata on Tuesday, 3 November, as investors and jewellery buyers in the City of Joy tracked precious metal rates ahead of the festive shopping season.

With Dhanteras falling on 6 November and Diwali on 8 November, the latest price correction could influence buying decisions as consumers prepare for auspicious purchases of gold and silver.

As of 12 pm on 3 November, 24-karat gold was priced at Rs.1,38,830 per 10 grams in Kolkata, down Rs.1,400, or 1%, from the previous level. Silver prices also witnessed a decline, with 999 fine silver falling Rs.4,850, or 2.64%, to Rs.1,78,710 per kg, according to Bullion.com.

Gold and silver also traded lower in the domestic futures market. On t...