Gold prices fell by ₹210 to ₹31,850 per 10 gram at the bullion market on Wednesday owing to tepid demand from local jewellers even as the precious metal firmed up overseas.
Silver too weakened by ₹435 to ₹37,880 per kg due to reduced offtake by consuming industrial units.
Marketmen attributed the slide in gold prices to easing demand from local jewellers and retailers in the domestic spot market, but a firm trend overseas capped the fall.
Globally, gold edged up by 0.06% to USD 1,250.80 an ounce and silver rose 0.45% to USD 14.77 an ounce in New York.
In the national capital, gold of 99.9% and 99.5% purities declined by ₹210 each to ₹31,850 and ₹31,700 per 10 gram, respectively. The precious metal had gained ₹60 on Tuesday.
Sovereign, however, held steady at ₹25,000 per piece of 8 gram on little doing.
In sync with gold, silver ready traded lower by ₹435 to ₹37,880 per kg, while weekly-based delivery was down by ₹448 to ₹37,433 per kg.
Silver coins, however, were unchanged at ₹74,000 for buying and ₹75,000 for selling of 100 pieces.
