Gold falls by Rs 100 on muted demand

Gold prices on Wednesday dipped by Rs 100 to Rs 32,750 per 10 gram here on lacklustre demand from jewellers, according to the All India Sarafa Association.

Silver prices, however, advanced by Rs 20 to Rs 38,420 per kg.

Traders said gain in equities market reduced gold's safe-haven appeal and sluggish demand from local jewellers weighed on the prices.

In the international market, gold was trading at USD 1,293.18 an ounce and silver at USD 15.19 an ounce in New York.

In the national capital, gold of 99.9 per cent purity declined by Rs 100 to Rs 32,750 per 10 gram, while gold of 99.5 per cent purity fell by Rs 120 to Rs 32,580 per 10 gram.

Sovereign gold, however, remained unchanged at Rs 26,400 per eight gram.