Silver falls on low demand; gold steady

Silver fell by Rs 200 to Rs 39,400 per kg at the bullion market today due to reduced offtake even as gold held steady.

Traders attributed the fall in silver to subdued demand from industrial units and coin makers at the local spot market.

However, gold stayed firm at Rs 31,610 per 10 gram in scattered deals despite firm trend overseas.

Globally, gold rose 0.59 per cent to USD 1,340.10 an ounce and silver 0.43 per cent to USD 16.47 an ounce in Singapore.

In the national capital, silver ready lost Rs 200 to Rs 39,400 per kg and weekly-based delivery shed Rs 235 to Rs 38,560 per kg.

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

On the other hand, gold of 99.9 per cent and 99.5 per cent purity, in thin trading, ended flat at Rs 31,610 and Rs 31,460 per 10 gram, respectively.

Sovereign also remained unaltered at Rs 24,800 per piece of eight gram.