Silver price slips below Rs 46,000, down Rs 1,020/kg

New Delhi: Silver weekly-based delivery prices Thursday dropped below the crucial Rs 46,000-mark by tumbling Rs 1,020 to Rs 45,745 per kg, in line with a sluggish trend overseas amid reduced off-take by industrial units at the domestic market.

On the other hand, gold held steady in scattered deals.

Traders said gains in equities and a stronger dollar dented demand for the precious metals too. Reduced off-take by industrial units and coin makers at the domestic spot market mainly pulled down silver weekly-based as well as silver ready prices.

Globally, silver futures fell 2.54 percent to USD 19.37 an ounce in New York yesterday.

In the national capital, silver weekly-based delivery cracked below the crucial Rs 46,000-mark by plunging Rs 1,020 to Rs 45,745 per kg and silver ready slumped 520 to Rs 45,700 per kg.

Silver coins, however, continued to be traded at the previous level of Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.

On the other hand, gold of 99.9 percent and 99.5 percent purity ruled flat at Rs 30,650 and Rs 30,500 per 10 grams, respectively.

Sovereign, too, remained steady at Rs 23,400 per piece of eight grams.