New Delhi: Gold prices fell further by Rs625 to Rs31,700 per 10 gram, extending losses for the second straight day in the national capital on Friday on sustained selling by stockists, triggered by a weakening global trend. While the yellow metal plunged by Rs625 to Rs31,700 per 10 gram, silver lost Rs1,710 to Rs54,000 per kg on reduced offtake by jewellers and industrial units. Sentiment remained bearish as gold fell in global markets after better-than-expected US economic data backed the case for the Federal Reserve to slow stimulus, traders said. Gold in Singapore, which normally set price trend on the domestic front, fell by 0.4% to 1,402.65 dollar an ounce and silver by 0.6% to 23.73 dollar an ounce. Besides, sustained selling by stockists on the back of sluggish demand dampened the sentiment, they said. On the domestic front, gold of 99.9 and 99.5% purity remained under selling pressure and plunged further by Rs625 each to Rs31,700 and Rs31,500 per 10 gram, respectively. The yellow metal had lost Rs1,575 on Thursday. Sovereign, however, remained steady at Rs25,300 per piece of eight gram. In a similar fashion, silver ready dropped further by Rs1,710 to Rs54,000 per kg and weekly-based delivery by Rs1,300 to Rs54,000 per kg. The white metal had tumbled by Rs2,790 in the previous session. Silver coins followed suit and plummeted by Rs1,000 to Rs88,000 for buying and Rs89,000 for selling of 100 pieces.

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