Silver regains footing on global cues, gold steady

Silver prices recovered by Rs 150 to Rs 40,850 per kg at the bullion market today in line with a firm trend overseas supported by increased offtake by consuming industries at the domestic spot market.
On the other hand, gold went steady at Rs 29,000 per 10 grams in scattered deals even as it strengthened overseas.
Traders attributed the recovery in silver prices to a strong trend overseas and increased offtake by industrial units and coin makers at the local spot market.
Globally, silver rose by 0.36 per cent to USD 16.54 an ounce and gold by 0.28 per cent to USD 1,174.90 an ounce in Singapore.

In the national capital, silver ready rose by Rs 150 to Rs 40,850 per kg and weekly-based delivery edged up by Rs 50 to Rs 40,050 per kg.
Silver coins, however, continued to be 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 ruled steady at Rs 29,000 and Rs 28,850 per 10 grams, respectively. It had lost Rs 450 in last two days.
Sovereign, however, traded higher by Rs 50 to Rs 24,400 per piece of eight grams.