New Delhi: Gold prices fell by Rs130 to Rs31,240 per ten gram on Wednesday due to reduced offtake at existing higher levels amid a weak global trend. Silver also fell further by Rs720 to Rs52,610 per kg on lack of buying support from industrial units and coin makers amid a weak global trend. Traders said besides reduced offtake at existing higher levels, weak trend in global markets mainly kept pressure on the prices of precious metals. Gold in New York, which normally set price trend on the domestic front, fell by 23.20 dollar to 1363.30 dollar an ounce and silver by 3.14% to 22.97 dollar an ounce Tuesday night. On the domestic front, gold of 99.9 and 99.5% purity fell by Rs130 each to Rs31,240 and Rs31,040 per ten gram, respectively. The yellow metal had gained Rs270 on Tuesday. Sovereign remained steady at Rs25,200 per piece of eight gram in limited deals. Silver ready fell further by Rs720 to Rs52,610 per kg and weekly-based delivery by Rs690 to Rs52,610 per kg. The white metal had lost Rs970 in the previous session. However, silver coins held steady at Rs87,000 for buying and Rs88,000 for selling of 100 pieces in restricted buying.

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