New Delhi: Gold and silver were flat on Tuesday as traders were in wait and watch mode as the economy struggled to come back on its feet while Moody’s downgraded India’s rating.

Downgrading India’s rating by a notch to ‘Baa3’ from ‘Baa2’ assigned in November 2018, Moody’s estimated India GDP shrinking by 4 per cent – first full fiscal contraction in more than four decades, as the country faces a prolonged period of slower growth.

Gold futures were up 0.08 per cent or Rs 37 at Rs 47,175 per 10 grams. Silver futures dropped 0.14 per cent or Rs 73 to Rs 50,538 per kg…