New Delhi: Gold prices rose by another Rs 100 to Rs 31,580 per 10 gram at the bullion market here today on persistent buying by local jewellers despite negative global leads.  

However, silver slumped below the Rs 40,000-mark by plunging Rs 1,075 to Rs 39,475 per kg due to reduced offtake by industrial units and coin makers.  

Marketmen said increased buying by local jewellers to meet growing demand for ornaments kept gold prices higher. A weak trend overseas, however, capped the gains.  

Globally, gold fell by 0.24 per cent to USD 1,328.20 an ounce and silver by 0.57 per cent to USD 16.50 an ounce in New York. In Singapore, gold dropped 0.05 per cent to SGD 1,753.45 an ounce while silver was flat at SGD 21.81 an ounce. 

In the national capital, gold of 99.9 per cent and 99.5 per cent purity added another Rs 100 each to Rs 31,580 and Rs 31,430 per 10 grams. The precious metal had gained Rs 130 yesterday. 

Sovereign, however, remained unaltered at Rs 24,800 per piece of eight grams. On the other hand, silver ready plunged by Rs 1,075 to Rs 39,475 per kg and weekly-based delivery shed Rs 10 to Rs 38,500 per kg.  

Silver coins, however, continued to be traded at previous level of Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces. PTI