MUMBAI: Gold prices snapped its two-day rising trend and reacted downwards on the bullion market here on Tuesday due to lack of local buying interest despite prices ruling firm in overseas markets. Silver also declined in the absence of demand from industrial users. August gold futures gained by $11.30 to end at $948.80 an ounce on the Comex Division of the New York Mercantile Exchange. September also silver advanced by 22.2 cents to $13.625 an ounce. Turning to the domestic market, standard gold (99.5 purity) fell by 20 per ten grams to Rs 14,920 from yesterday's closing level Rs 14,940. Pure gold (99.9 purity) also moved down by Rs 15 to Rs 14,995 from Rs 15,010 previously. Silver ready (.999 fineness) declined by Rs 65 per kilo to Rs 22,535 from Rs 22,600 previously.

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