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Silver breaks below Rs 46,000, down Rs 490/kg on global trend
Silver cracked below the Rs 46,000-mark by falling Rs 490 to Rs 45,975 per kg today, reflecting a weak trend overseas amid reduced off-take by industrial units in the domestic market.
New Delhi: Silver cracked below the Rs 46,000-mark by falling Rs 490 to Rs 45,975 per kg today, reflecting a weak trend overseas amid reduced off-take by industrial units in the domestic market.
On the other hand, gold held steady at Rs 31,250 per 10 grams in scattered deals.
Traders said that on top of a weak trend overseas, reduced off-take by industrial units and coin makers in the local spot market pulled down silver prices.
Globally, silver fell 2.2 per cent to USD 19.26 an ounce in New York yesterday's trade. Gold fell 0.81 per cent to USD 1,341.10 an ounce.
In the national capital, silver ready dropped Rs 490 to Rs 45,975 per kg and weekly-based delivery Rs 715 to Rs 45,445 per kg.
Silver coins, however, continued to be traded at the previous level of Rs 75,000 for buying and Rs 76,000 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 31,250 and Rs 31,100 per 10 grams, respectively.
Sovereign, too, remained flat at Rs 24,300 per piece of eight grams.