Gold prices fall Rs.100 to reach Rs.31,900/10g

Gold prices yesterday fell 100 rupees to reach 31,900 rupees per 10 grams at the bullion market in New Delhi owing to slackened demand from local jewellers amid weak global cues.

Silver followed suit and cracked below the 41,000 rupees by plunging 450 rupees to 40,600 rupees per kg due to reduced offtake by industrial units and coin makers.

Traders said muted



demand from local jewellers as well as retailers at the domestic spot market and a weak trend overseas mainly kept gold prices down for the second day.

Globally, gold fell 0.23% to 1,297.30 US dollar an ounce and silver 0.58% at 16.39 US dollar an ounce in New York in Thursday's trade.Retail inflation for industrial workers falls to 3.97% in April.