Gold slips from all-time high level, falls Rs 163

After hitting an all-time high on Monday, gold prices slumped Rs 163 to Rs 36,807 per 10 gram in the national capital on Tuesday due to subdued demand from jewellers amid weak trend overseas, according to the All India Sarafa Association.

Tracking gold, silver also declined by Rs 80 to Rs 43,020 per kg on reduced offtake by industrial units and coin makers.

Traders said easing demand from local jewellers amid sluggish global trend mainly weighed on gold prices.

Globally, gold was trading marginally lower at USD 1,462.50 in New York, while silver was quoting lower at USD 16.43 an ounce.

In the national capital, gold of 99.9 per cent declined Rs 163 to Rs 36,807, while that of 99.5 per cent purity dropped Rs 165 to Rs 36,635 per 10 gram.               

Sovereign gold stood steady at Rs 27,600 per eight gram.

The precious metal had touched an all-time high of Rs 36,970 per 10 gram on Monday.

Meanwhile, silver ready slumped Rs 80 to 43,020 per kg on Tuesday, while weekly-based delivery declined Rs 112 to Rs 42,291 per kg.

Price of silver coins held flat at Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces.