Silver rises on global cues, gold steady

NEW DELHI: Silver prices climbed Rs 100 to Rs 39,250 per kg at the bullion market today, tracking a firm trend overseas and increased offtake by consuming industries.

Gold, however, remained flat at Rs 29,300 per 10 grams in scattered deals even as it strengthened overseas.

Traders attributed the rise in silver prices to positive global cues amid pick-up in demand from industrial units and coin makers at the domestic spot market.

Globally, silver rose 1.09 per cent to USD 16.74 an ounce and gold by 0.83 per cent to USD 1,269.10 an ounce in New York in yesterday's trade.

In the national capital, silver ready went up by Rs 100 to Rs 39,250 per kg and weekly-based delivery by Rs 310 to Rs 38,460 per kg.

Silver coins, however, remained steady at Rs 71,000 for buying and Rs 72,000 for selling of 100 pieces.

On the other hand, gold of 99.9 per cent and 99.5 per cent purity held steady at Rs 29,300 and Rs 29,150 per 10 grams, respectively.

Sovereign too remained unaltered at Rs 24,400 per piece of eight grams.

 

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Author

PTI