Gold remains flat; silver slides on reduced offtake

Silver prices fell by 40 to Rs 37,850 per kg, in the national capital on Thursday, while gold remained steady, according to All India Sarafa Association.

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

Gold prices remained flat at Rs 33,570 per 10 gram in the national capital Thursday.

Globally, spot gold was trading higher at USD 1,337.20 per ounce in New York amid rising uncertainty over trade talks between the US and China. Silver was slightly up at USD 14.90 an ounce.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity held steady at Rs 33,570 per 10 gram and Rs 33,400 per 10 gram, respectively.

Sovereign gold too ruled flat at Rs 26,700 per eight gram.

In the previous session, gold had risen by Rs 200.

Meanwhile, silver ready declined by Rs 40 to Rs 37,850 per kg, while weekly-based delivery fell Rs 81 to Rs 36,825 per kg.

On the other hand, silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.