Silver falls on muted demand, gold ends steady

New Delhi: Silver prices went down by Rs 200 to Rs 39,400 per kg at the bullion market today owing to slackened demand from consuming industries at the domestic spot market.

On the other hand, gold held steady at Rs 31,450 per 10 grams in scattered deals, even as it strengthened overseas.

Traders attributed the slide in silver prices to a reduced offtake by industrial units and coin makers at the local spot market.

Globally, gold rose 0.05 percent to USD 1,320.50 an ounce in Singapore.

In the national capital, silver ready declined by Rs 200 to Rs 39,400 per kg, while weekly-based delivery advanced by Rs 245 to Rs 38,760 per kg on speculative buying.

Silver coins, however, continued to be traded at the previous levels of Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.

On the other hand, gold of 99.9 percent and 99.5 percent purity, ruled flat at Rs 31,450 and Rs 31,300 per 10 grams, respectively. It had shed Rs 50 yesterday.

Sovereign, however, remained steady at Rs 24,800 per piece of eight grams.