Gold prices drifted lower by ₹290 to ₹31,560 per ten grams at the bullion market on Wednesday on slackened demand from local jewellers and retailers amid weak trend overseas.
Silver also remained under selling pressure and shed another ₹200 at ₹37,100 per kg.
Marketmen said fall in demand from local jewellers and retailers at the domestic spot market and a weak trend overseas mainly weighed on the precious metal prices.
Globally, gold fell 0.13% to USD 1,213 an ounce and silver by 0.18% to USD 14.10 an ounce in Singapore.
In the national capital, gold of 99.9 and 99.5% purity dropped by ₹290 each to ₹31,560 and ₹31,410 per ten grams, respectively.
Sovereign gold also traded lower by ₹100 to ₹24,700 per piece of eight gram.
Following gold, silver ready fell by ₹200 to ₹37,100 per kg while weekly-based delivery lost ₹253 at ₹35,782 per kg.
Silver coins, too, plunged by ₹1,000 to ₹72,000 for buying and ₹73,000 for selling of 100 pieces.
