Silver prices edge up on better global cues, gold rates steady
New Delhi: Silver prices rose by Rs125 to Rs40,700 per kg at the bullion market on Thursday, backed by a firm trend overseas and increased offtake by industrial units. Gold, however, held steady at Rs30,450 per 10 grams in scattered deals.
Traders attributed the rebound in silver prices to positive global cues and pick-up in demand from industrial units at the domestic spot market. Globally, silver rose 0.47% to $17.07 an ounce and gold by 0.21% to $1,283.50 an ounce in Singapore.
In the national capital, silver ready traded higher by Rs125 to Rs40,700 per kg and weekly-based delivery by Rs95 to Rs39,770 per kg. Silver coins, however, continued to be traded at 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 Rs30,450 and Rs30,300 per 10 grams, respectively. The precious metal had gained Rs315 in last two days. Sovereign too held steady at Rs24,700 per piece of eight grams.