Silver recovers on global cues; gold ends steady

Silver prices recovered by Rs 50 to Rs 42,250 per kg at the bullion market today, tracking a firm trend overseas amid increased offtake by consuming industries at domestic spot market.
On the other hand, gold held steady at Rs 30,250 per 10 grams in scattered deals even as it strengthened overseas.
Traders said besides a firm trend overseas, increased offtake by industrial units and coin makers at the local spot market, led to recovery in silver prices.
Globally, silver rose by 0.12 per cent to USD 17.40 an ounce and gold by 0.24 per cent to USD 1,253.50 an ounce in Singapore.

In the national capital, silver ready edged up by Rs 50 to Rs 42,250 per kg and weekly-based delivery traded higher by Rs 35 to Rs 41,855 per kg.
Silver coins, however, continued to be asked 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 ruled flat at Rs 30,250 and Rs 30,100 per 10 grams, respectively. It had lost Rs 150 in last two trade.
Sovereign, too, remained steady at Rs 24,300 per piece of eight grams.