Snapping a three-day gaining streak, gold prices Wednesday fell by ₹110 to close at ₹32,540 per 10 gram at the bullion market in the national capital on lacklustre demand from local jewellers and weak global cues.
Silver rates were also down by ₹25 to ₹38,550 per kg on weak demand from coin makers and industrial units.
In the national capital, gold of 99.9 % and 99.5% purity fell by ₹110 each to ₹32,540 and ₹32,390 per 10 gram, respectively.
The precious metal gained ₹550 in the three previous sessions.
Traders attributed the fall in prices to weaker demand from local jewellers and negative global cues.
Sovereign gold, however, held steady at ₹25,000 per piece of 8 gram.
Globally, gold traded lower at $1,242.08 an ounce in New York, while silver held steady at $14.57 an ounce.
Silver ready fell by ₹25 to ₹ 38,550 per kg, while weekly-based delivery was marginally up by ₹22 to ₹ 38,181 per kg.
Silver coins, however, remained unchanged at ₹74,000 for buying and ₹75,000 for selling of 100 pieces.