Falling for the second straight day, gold prices declined by Rs 100 to Rs 31,350 per 10 grams at the bullion market Saturday on a sluggish overseas trend and softness in local demand. However, silver bounced back by Rs 275 to Rs 37,775 per kg due to increased offtake from industrial units and coin makers. Marketmen said apart from a weak trend overseas, easing demand from local jewellers and retailers at the domestic spot market weighed on gold prices.