Gold prices fall on tepid demand

Gold prices Friday declined by Rs 70 to Rs 33,420 per 10 gram in the national capital on reduced demand from jewellers amid a weak trend overseas, according to the All India Sarafa Association.

Silver, however, rose Rs 100 to Rs 38,000 per kg on fresh offtake by industrial units and coin makers.

Gold dipped on fall in demand from local jewellers amid a subdued global trend, traders said.

Globally, spot gold was trading lower at USD 1,334.60 an ounce, while silver was up at USD 14.99 an ounce in New York.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity dropped by Rs 70 each to Rs 33,420 per 10 gram and Rs 33,250 per 10 gram, respectively.

Sovereign gold held steady at Rs 26,700 per eight gram.

Silver ready surged by Rs 100 to Rs 38,000 per kg, while weekly-based delivery fell Rs 72 to Rs 36,878 per kg.

Silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.