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Silver rises on increased offtake, global cues, gold ends flat
Silver prices went up by Rs 250 to Rs 40,750 per kg at the bullion market today following increased offtake by industrial units and coin makers coupled with firm global cues.
By
migrator
migrator
Mumbai
Gold, on the other hand, held steady at Rs 31,650 per 10 grams in scattered deals.
Traders said besides increased offtake by industrial units and coin makers at the local spot market, a firm trend overseas, mainly led to the rise in silver prices.
Globally, silver rose by 0.69 per cent to USD 16.12 an ounce and gold by 0.45 per cent to USD 1,260.20 an ounce in Singapore.
In the national capital, silver ready rose by Rs 250 to Rs 40,750 per kg while weekly-based delivery by Rs 205 to Rs 39,995 per kg.
Silver coins, however, continued to be traded at the previous levels of Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.
On the other hand, gold of 99.9 per cent and 99.5 per cent purity, ruled steady at Rs 31,650 and Rs 31,500 per 10 grams, respectively.
Sovereign, however, shed Rs 50 at Rs 24,750 per piece of eight grams.
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