Silver slipped below Rs.42,000-mark by plunging Rs.800 to Rs.41,750 per kg on Saturday due to reduced offtake by industrial units…
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Silver slipped below Rs.42,000-mark by plunging Rs.800 to Rs.41,750 per kg on Saturday due to reduced offtake by industrial units amid a weak trend overseas, while gold held steady at the bullion market.
Gold remained flat at Rs.29,300 per 10 grams in scattered deals even as it strengthened overseas.
Traders attributed the sharp fall in silver prices to reduced offtake by industrial units and coin makers at the domestic spot market amid weak trend overseas.
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Globally, silver fell 1.54 per cent to $17.96 an ounce, while gold rose 0.18 per cent to $1,253.80 an ounce in New York yesterday.
In the national capital, silver ready dropped Rs.800 to Rs.41,750 per kg and weekly-based delivery plunged Rs.1,010 to Rs.41,380 per kg.
However, Silver coins continued to be traded at previous level of Rs.71,000 for buying and Rs.72,000 for selling of 100 pieces.
On the other hand, gold of 99.9 per cent and 99.5 per cent purity held steady at Rs.29,300 and Rs.29,150 per 10 grams, respectively. It had edged up by Rs 25 yesterday.
Sovereign, however, remained unchanged at Rs.24,400 per piece of eight grams.
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