Silver price spurts ₹380/kg on strong industrial demand, gold steady

London (Dec 4)  Silver prices on Tuesday spurted by ₹380 per kg on strong industrial demand while gold was steady at ₹31,850 per 10 gram at the local market in New Delhi.

Rising for the second day, silver jumped by ₹380 to close at 37,740 per kg on strong demand from industrial units and coin makers.

Gold prices, however, were flat at ₹31,850 per 10 gram amid subdued demand from domestic jewellers despite firm global trends.

Traders said gold prices were unchanged mainly due to subdued demand from jewellers even as firm global cues checked any fall from the previous day.

Gold of both 99.9% and 99.5% purities remained flat at ₹31,850 and ₹31,700 per 10 gram, respectively.

Sovereign gold, however, moved up by ₹100 to ₹24,800 per piece of 8 grams.

Gold traded higher at $1,237.85 an ounce in New York, while silver moved up to $14.50 an ounce.

Meanwhile, silver ready zoomed by ₹380 to ₹37,740 per kg, while weekly-based delivery jumped by ₹619 to ₹36,368 per kg.

Silver coins, however, also ended flat at ₹72,000 for buying and ₹73,000 for selling of 100 pieces.

TheHindu