New Delhi: Gold fell by Rs 40 to Rs 39,600 per ten gram in Delhi Bullion Market on Monday due to weak demand from local jewelry traders.

According to the All India Bullion Association, however, the price of silver remained at the previous closing level of Rs 48,800 per kg. Market sources said that gold declined due to weak demand from local jewelry traders. He said that although the positive trend in the global markets, gold's fall was somewhat controlled.

In New York, gold rose marginally to $ 1,523.70 an ounce. Silver, on the other hand, declined marginally to $ 18.41 an ounce. In Delhi bullion market, gold of 99.9 percent and 99.5 percent purity lost Rs 40 each to Rs 39,600 and Rs 39,430 per ten grams, respectively.

Similarly, the price of eight grams of guinea also declined by Rs. 1,000 to Rs. 29,100. Silverspot also remained unchanged at Rs 48,800 per kg, while silver weekly delivery price also remained steady at Rs 46,742 per kg. Silver coins also closed unchanged at Rs 1,00,000 for buying and Rs 1,01,000 for selling of 100 pieces.