Silver too dropped below the Rs 42,000-mark owing to lack of industrial buying support. Standard gold (99.5 purity) fell by Rs 95 to close at Rs 28,905 per 10 grams from Monday's closing level of Rs 29,000. Silver (.999 fineness) dipped by Rs 600 to finish at Rs 41,430 per kg as against Rs 42,030 yesterday. 

Silver prices recovered on short covering after prices dropped as the dollar stabilized after falls in the previous session as investors turned their attention to upcoming U.S. economic reports. The U.S. Federal Reserve is seen raising rates in December and boosting the U.S. currency, which when it rises makes commodities more expensive for non-U.S. buyers. 

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                               Expectations of stronger growth after U.S President-elect Donald Trump takes office in January have also helped equity markets since the election earlier this month. The U.S. economy grew faster than initially thought in the third quarter, notching its best performance in two years, buoyed by strong consumer spending and a surge in soybean exports.