Precious metals - gold and silver - declined in the national capital on Tuesday owing to subdued demand amid a weak global trend.
While gold declined by Rs. 90 to Rs 31,070 per ten grams, silver dropped by Rs. 40 to Rs. 58,000 per kg on lack of follow-up support.
Traders said subdued demand from retailers at prevailing higher levels and a weak global trend mainly led to fall in both gold and silver prices.
Gold in global markets, which normally set price trend on the domestic front, fell by US$9.90 to US$ 1,646.90 an ounce and silver by 0.07 per cent to US$ 30.16 an ounce in New York last night.
On the domestic front, gold of 99.9 and 99.5 per cent purity declined by Rs. 90 each to Rs. 31,070 and Rs. 30,870 per ten grams respectively, while sovereign remained steady at Rs. 25,450 per piece of eight gram.
In a similar fashion, silver ready fell by Rs. 40 to Rs. 58,000 per kg and weekly-based delivery by Rs. 25 to Rs. 58,240 per kg. Silver coins of 100 pieces remained steady at Rs. 80,000 for buying and Rs. 81,000 for selling.
