Globally, gold settled the week lower at USD 1,268.90 an ounce and silver at USD 16.43 an ounce in New York.
Tracking a weak trend overseas and easing demand from local jewellers, gold continued its slide for the second week and prices fell further to end at Rs 31,600 per ten gram at the bullion market. Silver also finished weak at Rs 41,000 per kg due to reduced offtake by industrial units and coin makers.
Marketmen said besides subdued trend overseas, fall in demand from local jewellers and retailers at domestic spot market kept pressure on gold prices.
Globally, gold settled the week lower at USD 1,268.90 an ounce and silver at USD 16.43 an ounce in New York.
In the national capital, gold of 99.9 and 99.5 percent purity commenced the week steady at Rs 31,800 and Rs 31,650 but soon climbed to Rs 31,900 and Rs 31,750 per ten grams, respectively, on the back of firm global cues.
Later, it met with resistance at prevailing higher levels and slipped to Rs 31,570 and Rs 31,420 before finally ended at Rs 31,600 and Rs 31,450 per ten grams, respectively, still showing a fall of Rs 200 each.
Sovereign gold, however, moved in a narrow range in limited deals and pegged at last level of Rs 24,800 per piece of eight gram.
Silver ready in range-bound movements on alternate bouts of buying and selling, ended the week lower by Rs 350 at Rs 41,000 per kg and weekly-based delivery cracked below the Rs 40,000-mark by falling Rs 405 to Rs 39,795 per kg.
On the other hand, silver coins maintained a steady trend at Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces on scattered deals.
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