Sovereign gold held steady at Rs 26,700 per eight gram.

Gold prices on Friday declined by Rs 70 to Rs 33,420 per 10 gram in the national capital on reduced demand from jewellers amid a weak trend overseas, reported Press Trust of India (PTI) quoting the All India Sarafa Association. Gold rates dipped on fall in demand from local jewellers amid a subdued global trend, traders were quoted as saying in the PTI report. Silver rates, however, increased by Rs 100 to Rs 38,000 per kg on fresh offtake by industrial units and coin makers.

Here are 5 things to know about gold prices, silver rates:

1. In the national capital, gold of 99.9 per cent and 99.5 per cent purity dropped by Rs 70 each to Rs 33,420 per 10 gram and Rs 33,250 per 10 gram, respectively.

2. Globally, spot gold was trading lower at $1,334.60 an ounce, while silver was up at $14.99 an ounce in New York.

3. Sovereign gold held steady at Rs 26,700 per eight gram.

4. Silver ready surged by Rs 100 to Rs 38,000 per kg, while weekly-based delivery fell Rs 72 to Rs 36,878 per kg. Silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.

5. Earlier this week, gold futures in India hit their highest level since March 1, at 32,834 rupees per 10 grams. Gold imports in May jumped 49 per cent from a year earlier to 116 tonnes as a correction in local prices during a key festival boosted retail demand, news agency Reuters reported citing sources.

(With inputs from agencies)