Silver slips on low demand, gold remains steady

Silver fell by Rs 200 to Rs 39,000 per kg at the bullion market today owing to reduced offtake by consuming industries gold prices remained flat on scattered deals.

Traders attributed the slide in silver prices to easing demand from industrial units and coin makers at the local spot market.

However, gold ruled flat at Rs 30,585 per 10 gram in limited deals, despite a better trend overseas.

Globally, gold rose by 0.25 per cent to USD 1,210.20 an ounce and silver by 0.72 per cent to USD 15.36 an ounce in Singapore.

In the national capital, silver ready drifted down by Rs 200 to Rs 39,000 per kg, while weekly-based delivery recovered by Rs 120 to Rs 38,050 per kg on speculative buying.

However, silver coins remained steady at 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 ended flat at Rs 30,585 and Rs 30,435 per 10 gram, respectively. The precious metal had gained Rs 150 in the previous three days.

Sovereign also remained unaltered at Rs 24,600 per piece of 8 gram.