Gold falls on muted demand from jewellers despite Akshaya Tritiya

New Delhi: Tepid demand from jewellers pulled down gold prices by Rs 50 to Rs 32,670 per 10 gram at the bullion market here on Tuesday, according to the All India Sarafa Association.

Silver too shed a marginal Rs 10 to trade at Rs 38,120 per kg.

According to traders, fall in demand from local jewellers and retailers at the domestic spot market led to the dip in gold prices despite Akshaya Tritiya, a day considered auspicious to buy gold.

Globally, spot gold was trading marginally higher at USD 1,282.20 an ounce, while silver was down at USD 14.92 an ounce in New York.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity dropped by Rs 50 to Rs 32,670 and Rs 32,500 per 10 gram, respectively

Sovereign gold held steady at Rs 26,400 per eight gram.

Silver ready fell by Rs 10 to Rs 38,120 per kg and weekly-based delivery gained Rs 44 to Rs 37,334 per kg.

Silver coins held flat at Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces.