Silver edges up on better global cues, gold steady

Silver prices went up by Rs 125 to Rs 40,700 per kg at the bullion market today, backed by a firm trend overseas and increased offtake by industrial units.
Gold, however, held steady at Rs 30,450 per 10 grams in scattered deals.
Traders attributed the rebound in silver prices to positive global cues and pick-up in demand from industrial units at the domestic spot market.
Globally, silver rose 0.47 per cent to USD 17.07 an ounce and gold by 0.21 per cent to USD 1,283.50 an ounce in Singapore.
In the national capital, silver ready traded higher by Rs 125 to Rs 40,700 per kg and weekly-based delivery by Rs 95 to Rs 39,770 per kg.

Silver coins, however, continued to be traded at previous levels of Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.
On the other hand, gold of 99.9 per cent and 99.5 per cent purity ruled flat at Rs 30,450 and Rs 30,300 per 10 grams, respectively. The precious metal had gained Rs 315 in last two days.
Sovereign too held steady at Rs 24,700 per piece of eight grams.