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Silver rises on industrial offtake, gold slides Rs 10

PTI     October 4, 2010
Silver prices rose Rs 130 to Rs 33,700 per kg in the national capital on Monday, on increased offtake by industrial units and coin-makers, while gold shed Rs 10 to Rs 19,390 per 10 grams, amid a weakening global trend.

Marketmen said demand from industrial units and coin-makers mainly pushed up silver prices, while fresh selling by stockists at existing higher levels amid a weakening global trend mainly led to the decline in gold prices.

Silver ready rose Rs 130 to Rs 33,700 per kg and weekly-based delivery by Rs 245 to Rs 33,225 per kg. Silver coins also gained Rs 100 to Rs 35,400 for buying and Rs 35,500 for selling of 100 pieces.

On the other hand, gold of 99.9 per cent and 99.5 per cent purity lost Rs 10, each, to Rs 19,390 and Rs 19,290 per 10 grams, respectively. Sovereigns held steady at Rs 15,400 per piece of eight grams in limited deals.

Meanwhile, gold in global markets, which normally sets the price trend on the domestic front, fell $2.30 to $1,316.30 an ounce.

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