Gold & Silver

Silver weakens on muted demand, gold remains steady

PTI New Delhi | Updated on January 16, 2018 Published on December 14, 2016

silver

Silver prices declined by Rs 100 to Rs 41,400 per kg today owing to slack demand from consuming industries at the domestic spot market.

On the other hand, gold remained steady at Rs 28,450 per 10 grams in scattered deals even as it firmed up overseas.

Traders attributed the slide in silver prices to a reduced offtake by industrial units and coin makers at the local spot market.

Globally, gold rose 0.41 per cent to $1,162.70 an ounce and silver by 1.13 per cent to $ 17.07 an ounce in Singapore ahead of the outcome of the ongoing Federal Reserve meet which is expected to tighten its policy sooner than later.

In the national capital, silver ready drifted lower by Rs 100 to Rs 41,400 per kg and weekly-based delivery shed Rs 10 at Rs 41,480.

Silver coins, however, continued to be 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 held steady at Rs 28,450 and Rs 28,300 per 10 grams, respectively. It had lost Rs 100 in yesterday’s trade.

Sovereign, however, ruled flat at Rs 24,200 per piece of eight grams.

Published on December 14, 2016

A letter from the Editor


Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.