Gold prices steady, silver falls on muted demand
New Delhi: Gold prices held steady at Rs31,450 per 10 grams at the bullion market on Tuesday in scattered deals, even as it strengthened overseas. On the other hand, Silver prices declined by Rs200 to Rs39,400 per kg owing to slackened demand from consuming industries at the domestic spot market.
Traders attributed the slide in silver prices to a reduced offtake by industrial units and coin makers at the local spot market. Globally, gold rate rose 0.05% to $1,320.50 an ounce in Singapore.
In the national capital, silver ready declined by Rs200 to Rs39,400 per kg, while weekly-based delivery advanced by Rs245 to Rs38,760 per kg on speculative buying. Silver coins, however, continued to be traded at the previous levels of Rs74,000 for buying and Rs75,000 for selling of 100 pieces.
On the other hand, gold of 99.9% and 99.5% purity ruled flat at Rs31,450 and Rs31,300 per 10 grams, respectively. It had shed Rs50 on Monday. Sovereign, however, remained steady at Rs24,800 per piece of eight grams.
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