Silver touches Rs 40,000 per kg mark on increased offtake

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goldGold ended at Rs 27,800 per 10 grams at the bullion market on 18 May on scattered buying from jewellers, while silver reclaimed the Rs 40,000 per kg mark by increasing Rs 350 per kg on increased offtake amid positive global trends

Traders said scattered demand from jewellers kept gold prices steady, while increased offtake by industrial units and coin makers amid a firm global trend helped silver prices to recapture the 40k mark.

Gold added 0.6 percent to $1,232.44 an ounce, the highest since February 17 and silver went up 1.6 per cent to $17.78 an ounce, the highest since January 29 in Singapore.

In Delhi, gold of 99.9 percent and 99.5 percent purity held steady at Rs 27,800 and Rs 27,650 per 10 gram, respectively. Sovereign followed suit and stayed put at Rs 23,900 per piece of eight gram.

On the other hand, silver rose further by Rs 350 to Rs 40,000 per kg, a highest level since January 24 this year largely on higher global advances.”

Silver coins also gained by Rs 1,000 to Rs 59,000 for buying and Rs 60,000 for selling of 100 pieces in line with a firm trend in silver.

 

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