(Reuters) - India gold futures fell back on Tuesday afternoon to their lowest level in a week, following overseas trends, where fears of a possible credit rating downgrade for euro zone nations by Standard & Poor's weighed. * The most-active gold for February delivery on the Multi Commodity Exchange was 0.54 percent lower at 28,890 rupees per 10 grams, after hitting 28,763 rupees, a level last seen on November 26. * Silver also fell from the highest level in three weeks following the yellow metal. * The most-active silver for March delivery on the MCX was 0.78 percent lower at 56,397 rupees per kg, falling from the previous day's highest level since November 16. * The ratings agency announced the warning just as leaders of France and Germany agreed a master plan involving treaty change to impose budget discipline across the euro zone, ahead of a key European Union summit on Friday. * Banks, the primary dealers of bullion, were shut for a public holiday, keeping the physical buying lacklustre. Wedding season is underway in India, the world's biggest buyer of bullion. (Reporting by Siddesh Mayenkar; Editing by Harish Nambiar)

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