Silver prices jump on global cues, gold steady

New Delhi-India (Sept 29)  Silver prices rallied by Rs300 to Rs40,800 per kg at the bullion market on Friday, backed by a firm trend overseas and increased offtake by industrial units. Gold, however, held steady at Rs30,750 per 10 gram 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 prices rose 0.69% to $16.84 an ounce and gold 0.34% to $1,286.70 an ounce in New York in Thursday’s trade.

In the national capital, silver ready traded higher by Rs300 to Rs40,800 per kg and weekly-based delivery Rs75 to Rs39,740 per kg. Silver coins however continued to be traded at previous level of Rs74,000 for buying and Rs75,000 for selling of 100 pieces.

On the other hand, gold rates for 99.9% and 99.5% purity ruled flat at Rs30,750 and Rs30,600 per 10 gram, respectively. The precious metal had lost Rs250 on Thursday. Sovereign too held steady at Rs24,700 per piece of eight gram.

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