Silver up Rs 600 to Rs 39,350 per kg, gold stays steady

Silver surged by Rs 600 to Rs 39,350 per kg at the bullion market today, largely in sync with a firm trend overseas and increased offtake by industrial units.
Gold, however, held steady at Rs 29,150 per ten gram in scattered deals.
Traders attributed the spike in silver prices to positive global cues and pick-up in demand from industrial units at the domestic spot market.
Globally, the white metal rose by 1.20 per cent to USD 16.50 an ounce and gold by 0.84 per cent to USD 1,254.50 an ounce in New York in yesterday's trade.
In the national capital, silver ready surged by Rs 600 to Rs 39,350 per kg while weekly-based delivery traded up by Rs 335 to Rs 38,150 per kg. Yesterday, silver ready rose by Rs 250 to close at Rs 38,750 per kg.

Silver coins, however, remained unaltered Rs 71,000 for buying and Rs 72,000 for selling of 100 pieces.
On the other hand, gold of 99.9 per cent and 99.5 per cent purity ruled steady at Rs 29,150 and Rs 29,000 per ten gram, respectively. The precious metal had gained Rs 100 yesterday.
Sovereign too traded at previous level of Rs 24,400 per eight gram.