Gold prices on August 19 declined by ₹100 to ₹38,570 per 10 gram in the national capital, tracking weak trend overseas and lacklustre demand from jewellers, according to the All India Sarafa Association.

Gold had reached its all-time high mark of ₹38,670 on August 17.

Silver also fell by ₹50 to ₹45,000 per kg due to reduced offtake by industrial units and coin makers.

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

Globally, spot gold was trading 0.98% lower at $1,499 an ounce in New York, while silver was down 0.18% to $17.00 an ounce.

Gold witnessed selling on positive market sentiment as the rise in global equity indices underpinned demand for safe haven assets, HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

Global equity markets traded firm as Germany and China signalled stimulus measures to support economic recovery, he added.

In the national capital, gold of 99.9% and 99.5% purity reduced ₹100 to ₹38,570 and ₹38,400 per 10 gram, respectively.

Sovereign gold held steady at 28,800 per eight gram.

On Saturday, gold had risen by ₹250 to ₹38,670 per 10 gram, while silver gained ₹362 to ₹45,050 per kg.

Meanwhile, silver ready dropped by ₹50 to 45,000 per kg on Monday, while weekly-based delivery fell ₹289 to ₹43,535 per kg.

Price of silver coins held flat at ₹91,000 for buying and ₹92,000 for selling of 100 pieces.