Silver rises on global cues, gold steady

New Delhi: Silver prices climbed Rs 185 to Rs 40,450 per kg, tracking a firm trend overseas and increased offtake by consuming industries at the bullion market Tuesday.

Gold, however, remained flat at Rs 29,350 per 10 grams in scattered deals even as it weakened overseas.

Traders attributed the rise in silver prices to positive global cues, and pick up in demand from industrial units and coin makers at the domestic spot market.

Globally, silver rose 0.12 percent to USD 17.33 an ounce, while gold fell 0.21 percent to USD 1,264.10 in Singapore.

In the national capital, silver ready shot up by Rs 185 to Rs 40,450 per kg and weekly-based delivery by Rs 285 to Rs 40,415 per kg.

Silver coins also spurted by Rs 1,000 to Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces.

On the other hand, gold of 99.9 percent and 99.5 percent purity held steady at Rs 29,350 and Rs 29,200 per 10 grams, respectively.

Sovereign too remained unaltered at Rs 24,400 per piece of eight grams.