Gold prices fell by ₹55 to ₹32,945 per 10 gram at the bullion market in New Delhi on Tuesday due to tepid demand from jewellers, according to the All India Sarafa Association.

Tracking gold, silver also dropped by ₹200 to ₹38,500 per kg due to reduced offtake by industrial units and coin makers.

Traders said easing demand from local jewellers at the domestic market led to the decline in prices, but a firm trend overseas restricted the fall.

Globally, spot gold was trading higher at $1,285.40 an ounce, while silver was up at $15.06 an ounce in New York.

In the national capital, gold of 99.9% and 99.5% purity declined by ₹55 each to ₹32,945 and ₹32,775 per 10 gram, respectively.

However, sovereign gold held steady at ₹26,400 per eight gram.

Silver ready slumped by ₹200 to ₹38,500 per kg and weekly-based delivery reduced by ₹28 to ₹37,222 per kg.

On the other hand, silver coins held flat at ₹80,000 for buying and ₹81,000 for selling of 100 pieces.