Gold prices fell by ₹220 to ₹31,650 per 10 gram amid weakening global trend and easing demand from local jewellers at the bullion market on Tuesday.
Silver, too, remained weak and declined by ₹50 per kg to ₹39,250 per kg due to reduced offtake by industrial units and coin makers.
Marketmen said, sentiment remained downbeat in sync with a weak trend overseas as dollar firmed which eroded demand for the precious metal as a safe-haven.
Globally, gold fell by 1.39% to USD 1,187 an ounce in New York on Monday. Silver, too, shed 2.39% to USD 14.38 an ounce.
Besides, slackened demand from the local jewellers and retailers at the domestic spot markets fuelled the downtrend.
In the national capital, gold of 99.9% and 99.5% purity lost ₹220 each to ₹31,650 and ₹31,500 per 10 gram, respectively. The precious metal had fallen by ₹30 on Monday.
Sovereign gold, however, remained steady at ₹24,600 per piece of 8 gram in restricted activity.
In line with overall trend, silver also traded lower by ₹50 to ₹39,250 per kg and weekly-based delivery by ₹120 to ₹38,735 per kg.
On the other hand, silver coins continued to be traded at previous levels of ₹73,000 for buying and ₹74,000 for selling of 100 pieces.
