Silver prices soften after muted global trend, gold steady

New York (Aug 14)  Silver prices showed moderation today, dropping Rs 100 to Rs 40,100 per kg, keeping track of a muted trend overseas.

Gold, however, was steady at Rs 30,050 per 10 grams even as it turned weak overseas.

Traders attributed the slide in silver prices to negative global pointers.

Globally, silver fell 0.50 per cent to USD 17.01 an ounce and gold by 0.71 per cent to USD 1,279.60 in Singapore.

In the national capital, silver ready declined by Rs 100 to Rs 40,100 per kg while weekly-based delivery edged up by Rs 50 to Rs 39,250 on speculative buying support.

Silver coins, however, spurted by Rs 1,000 to Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.

On the other hand, gold of 99.9 per cent and 99.5 per cent purity was little changed at Rs 30,050 and Rs 29,900 per 10 grams, respectively.

Sovereign too went flat at Rs 24,500 per piece of eight grams.

Source: DNA