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Silver goes up on increased offtake; gold steady

New Delhi | Silver prices were higher by Rs 100 to Rs 41,600 per kg in the national capital on Monday, while gold ruled flat at Rs 34,590 per 10 gram on scattered demand, according to All India Sarafa Association.

Traders attributed the rise in silver prices to pickup in offtake by industrial units and coin makers at the local spot market.

Globally, silver (futures) rose 0.25 per cent to USD 16.04 an ounce and gold (futures) gained 0.22 per cent at USD 1,331.80 an ounce in New York.

In the national capital, silver ready traded higher by Rs 100 to Rs 41,600 per kg, while weekly-based delivery advanced by Rs 122 to Rs 40,390 per kg.

Silver coins however weakened by Rs 1,000 to Rs 82,000 for buying and Rs 83,000 for selling of 100 pieces.

Gold of 99.9 per cent and 99.5 per cent purity ruled flat at Rs 34,590 and Rs 34,440 per ten gram, respectively. It had gained Rs 90 on Saturday.

Sovereign was also unaltered at Rs 26,600 per piece of eight gram.

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