New Delhi: Falling for the second straight day, gold prices on Saturday edged lower by 40 to 32,550 per 10 grams at the bullion market amid tepid demand from local jewellers and a weak trend overseas. But gold prices still remained near six-year high levels. Gold had risen by 125 on Thursday to over six-year high of 32,625 per 10 grams, buoyed by festive and wedding season demand. But higher prices hit domestic demand, traders said. Gold prices had also slipped by 35 on Friday.

Traders said apart from a weak trend overseas, fall in demand from local jewellers and retailers at the high domestic spot markets kept pressure on gold prices. Globally, gold eased to $1,233.80 an ounce in New York on Friday but still remained near three-month highs.

The recent turmoil in global financial markets helped support global gold prices, said analysts.

Silver prices, however, on Saturday recovered by 100 to 39,600 per kg on back of increased offtake by industrial units.

In Delhi, gold of 99.9 per cent and 99.5 per cent purity declined by 40 each to 32,550 and 32,400 per 10 grams respectively. It had lost 35 on Friday. Sovereign gold, also weakened by 100 to 24,700 per piece of eight grams.

On the other hand, silver ready staged a comeback by rising 100 to 39,600 per kg, while silver weekly based delivery fell by 50 to 38,710 per kg.

Silver coins, however, were unaltered at 75,000 for buying and 76,000 for selling of 100 pieces.

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