Gold falls by Rs 100 to Rs 31,400 per 10 grams

Gold falls by Rs 100 to Rs 31,400 per 10 grams New Delhi: Both gold and silver declined for the third day in a row in the bullion market here Tuesday on subdued demand at prevailing high levels amid a weakening global trend.

While gold fell by Rs 100 to Rs 31,400 per 10 grams, silver shed Rs 10 to Rs 59,540 per kg.

Traders said lack of demand at prevailing higher levels mainly kept pressure on gold and silver prices.

Weak global trend where gold fell on speculation that a stronger dollar will curb demand for the metal as an alternate investment also influenced the sentiment, they added.

In London, gold fell by 0.5 percent to USD 1,719.38 an ounce, while silver shed one per cent to USD 32.10 an ounce.

Back home, gold of 99.9 and 99.5 percent purity lost Rs 100 each at Rs 31,400 and Rs 31,200 per 10 grams, respectively. The metal has lost Rs 225 in the last two sessions.

Sovereign fell by Rs 50 to Rs 25,400 per piece of eight grams.

Likewise, silver ready shed Rs 10 to Rs 59,540 per kg and weekly-based delivery by Rs 50 to Rs 59,600 per kg.

Silver coins remained steady at Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.

PTI