Gold price slips Rs 30, silver price jumps Rs 830 on fresh buying, global cues

PTI Posted online: Tuesday, Dec 10, 2013 at 0000 hrs
New Delhi : Snapping a six-day losing streak, silver prices surged by Rs 830 to Rs 44,300 per kg here today on buying by industrial units amid a firm global trend. Gold price also slipped Rs 30 to Rs 30,725 on subdued demand at higher levels.

Traders said fresh buying by industrial units and coin makers along with higher global trend mainly led the recovery in silver prices.

Silver in Singapore, which normally sets the price trend on domestic front, added 0.5 per cent to USD 19.95 an ounce.

They said falling demand at prevailing higher levels mainly pulled down gold prices to trade marginally lower.

On the domestic front, silver ready recovered sharply by Rs 830 to Rs 44,300 per kg and weekly-based delivery by Rs 610 to Rs 44,630 per kg. The white metal had lost Rs 1,600 in the previous six trading sessions.

Silver coins also spurted by Rs 1,000 to Rs 83,000 for buying and Rs 84,000 for selling of 100 pieces.

However, gold of 99.9 and 99.5 per cent purity declined by Rs 30 each to Rs 30,725 and Rs 30,525 per ten grams, respectively. It had gained Rs 255 yesterday.

Sovereign held steady at Rs 25,200 per piece of eight gram in limited deals.