Silver regains Rs 40k-level on global cues

Gold ended steady at Rs 27,800 per ten grams at the bullion market today on scattered buying from jewellers, while silver reclaimed the 40,000/kg mark by rising Rs 350 on increased offtake amid positive global cues.

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 Rs 40,000 per kg mark.

Globally, gold added 0.6 per cent to USD 1,232.44 an ounce, the highest since February 17 and silver surged 1.6 per cent to USD 17.78 an ounce, the highest since January 29 in Singapore.

Silver coins also spurted 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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Posted in: Indian Market Tips