Gold slips below Rs.32,000 on low demand,global cues

Gold prices fell by 20 rupees to 31,980 rupees per 10 grams at the bullion market yesterday on easing demand from local jewellers along with subdued global cues, extending its fall for the third straight day.

However, silver recovered by 100 rupees to 40,300 rupees per kg on scattered enquiries from industrial units. Traders said, besides the fall in demand from local jewellers and



retailers at the domestic spot market, a weak trend overseas on a firmer dollar, while investors focused on the US jobs data due later in the day for fresh catalysts, kept pressure on gold prices.

Gold prices fell 0.12 percent to 1,310 US dollar an ounce, and silver by 0.15 percent to 16.37 US dollar an ounce in Singapore.