Gold prices fell Rs 70 to Rs 32,180 per 10 gram at the bullion market on Tuesday owing to slackened demand from local jewellers amid a weak trend overseas. Silver followed suit and eased by Rs 50 to Rs 39,700 per kg on lower demand from industrial units and coin makers.

Traders attributed the fall to easing demand from local jewellers and retailers following a weak trend overseas. Diversion of funds towards equity markets also dampened the sentiment.

Globally, gold fell 0.07 per cent to $1,226.90 an ounce and silver by 0.20 per cent to $14.73 an ounce in Singapore.

In the national capital, gold of 99.9 per cent purity fell Rs 70 to Rs 32,180 per 10 gram, while 99.5 per cent purity lost Rs 80 to Rs 32,020 per 10 gram. The precious metal had gained Rs 200 on Monday. Sovereign gold, however, remained steady at Rs 24,700 per piece of 8 gram.

Silver ready slipped by Rs 50 to Rs 39,700 per kg, while weekly-based delivery’s decline was steeper, which fell by Rs 160 to Rs 39,100 per kg. Silver coins, however, continued to be traded at the previous level of Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.

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