Silver prices recover on global cues, gold steady1 min read . Updated: 02 Dec 2016, 03:35 PM IST
Gold prices are steady at Rs29,000 per 10 grams in scattered deals even as it strengthens overseas. Silver prices recover by Rs150 to Rs40,850 per kg
New Delhi: Silver prices recovered by ₹ 150 to ₹ 40,850 per kg at the bullion market on Friday in line with a firm trend overseas supported by increased offtake by consuming industries at the domestic spot market. On the other hand, gold went steady at ₹ 9,000 per 10 grams in scattered deals even as it strengthened overseas.
Traders attributed the recovery in silver prices to a strong trend overseas and increased offtake by industrial units and coin makers at the local spot market. Globally, silver rose by 0.36% to $16.54 an ounce and gold by 0.28% to $1,174.90 an ounce in Singapore. In Delhi, silver ready rose by Rs150 to Rs40,850 per kg and weekly-based delivery edged up by Rs50 to Rs40,050 per kg.
Silver coins, however, continued to be at the previous level of ₹ 74,000 for buying and ₹ 5,000 for selling of 100 pieces. On the other hand, gold of 99.9% and 99.5% purity ruled steady at ₹ 9,000 and ₹ 8,850 per 10 grams, respectively. It had lost ₹ 50 in last two days. Sovereign, however, traded higher by ₹ 0 to ₹ 4,400 per piece of eight grams.