Gold prices steady, silver gains on increased offtake
Gold prices hold steady at Rs32,200 per 10 gram even as it weakened overseas, while silver prices gain by Rs200 to Rs40,500 per kg on increased offtake by consuming industries
New Delhi: Gold prices held steady at Rs32,200 per 10 gram in scattered deals on Tuesday even as it weakened overseas. On the other hand, silver prices rose by Rs200 to Rs40,500 per kg on the back of increased offtake by consuming industries.
Traders attributed the rise in silver prices to a pick-up in offtake by industrial units and coin makers at the local spot market.
Globally, silver and gold rates fell as the dollar firmed near 3-1/2 month highs, eroding demand for the precious metals as a safe haven. Gold fell 0.45% to $1,309 an ounce and silver by 0.46% to $16.22 an ounce in London in early trade.
In the national capital, gold of 99.9% and 99.5% purity ruled flat at Rs32,200 and Rs32,050 per 10 gram, respectively. It had lost Rs120 in Monday’s trade. Sovereign was also unaltered at Rs24,800 per piece of eight gram.
Silver ready traded higher by Rs200 to Rs40,500 per kg, while weekly-based delivery slipped by Rs215 to Rs38,640 per kg. Silver coins, however, spurted by Rs1,000 to Rs76,000 for buying and Rs77,000 for selling of 100 pieces.
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