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Silver touches all-time high of Rs 45,000; gold falls Rs 100

Tue Aug 13 2019

 

 

Silver prices on Tuesday soared Rs 2,000 to touch an all-time high mark of Rs 45,000 a kg, while gold declined by Rs 100 to Rs 38,370 per 10 gram in the national capital, according to the All India Sarafa Association.

 

Besides increased offtake by industrial units and coin makers, robust global trend mainly led to the rise in white metal, traders said. “At Rs 45,000, silver has touched its all time-high. Strong overseas trend led to the increase in silver price,” Surendra Jain, vice president of All India Sarafa Association said.

 

Globally, gold was trading higher at $ 1,520.37 an ounce in the New York, while silver was quoting higher at $ 17.32 an ounce. In the national capital, gold of 99.9 per cent and 99.5 per cent purity declined Rs 100 to Rs 38,370 and Rs 38,200 per 10 gram, respectively.

 

Sovereign gold gained Rs 200 to Rs 28,800 per eight gram. On Monday, gold had retouched its all-time high mark of Rs 38,470 per 10 gram.

 

Silver

Meanwhile, silver ready soared Rs 2,000 to Rs 45,000 a kg on Tuesday, while weekly-based delivery surged Rs 956 at Rs 44,280 a kg. Silver coins were in good demand and traded higher by Rs 1,000 at Rs 89,000 for buying and Rs 90,000 for selling of 100 pieces.

 

Source: Hindu business line.