Silver prices spike Rs700 on global cues, gold prices steady
Silver prices stood out on Tuesday by reclaiming the Rs37,000-mark with a jump of Rs700 at Rs37,200 per kg
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New Delhi: Silver prices stood out on Tuesday by reclaiming the Rs37,000-mark with a jump of Rs700 at Rs37,200 per kg, powered by a firm trend overseas and increased local offtake.
The gains came after four straight days of fall.
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Gold prices, however, held steady at Rs28,780 per 10 grams in scattered deals. Traders attributed the spike in silver prices to positive global cues and pick-up in demand from industrial units at the domestic spot market. Globally, silver prices rose 0.45% to $15.64 an ounce and gold prices 0.16% to $1,214.10 in New York on Monday.
In the national capital, silver ready traded higher by Rs700 to Rs37,200 per kg and weekly-based delivery Rs 665 to Rs36,250 per kg.
Silver coins, however, plunged by Rs1,000 to Rs68,000 for buying and Rs69,000 for selling of 100 pieces.
On the other hand, gold of 99.9% and 99.5% purity ruled flat at Rs28,780 and Rs28,630 per 10 grams, respectively.
The precious metal had lost Rs370 in the past two days. Sovereign, too, held steady at Rs 24,300 per piece of eight grams.