Silver regains strength on demand build-up, gold steady

New Delhi: Silver prices recovered by Rs 130 to Rs 42,200 per kg today, tracking a firm trend overseas amid increased offtake by consuming industries at the domestic spot market. On the other hand, gold went steady at Rs 29,550 per 10 grams in scattered deals even as it strengthened overseas. Traders attributed the recovery in silver prices to a firm global trend and higher demand locally.

Globally, silver rose by 0.20 per cent to USD 17.49 an ounce and gold by 0.34 per cent to USD 1,219.50 in New York yesterday. In the national capital, silver ready rebounded by Rs 130 to Rs 42,200 per kg while weekly-based delivery shed Rs 20 at Rs 41,700. Silver coins, however, continued to be at the previous level of Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces.

On the other hand, gold of 99.9 per cent and 99.5 per cent purity went flat at Rs 29,550 and Rs 29,400 per 10 grams, respectively. It had lost Rs 200 in the last two days. Sovereign, however, remained unchanged at Rs 24,400 per piece of eight grams.