Weekly Tips on Gold And Silver

GOLD-SILVER
 

Silver prices edged higher by Rs 195 to Rs 36,368 per kg in futures trade today after participants built up positions taking positive-cues from overseas markets. At the MCX, silver prices for delivery in March rose by Rs 195, or 0.54 percent, to Rs 36,368 per kg in business turnover of 1,228 lots. Similarly, the metal for delivery in May traded Rs 187, or 0.51 percent, higher at Rs 37,039 per kg in 16 lots. 

Gold prices fell further by Rs 75 to Rs 27,025 per ten gram at bullion market here today on subdued demand even as the metal strengthened overseas. Market men said sluggish demand from jewellers and retailers mainly kept pressure on gold prices. In Delhi, gold of 99.9 and 99.5 percent purity fell further by Rs 75 each to Rs 27,025 and Rs 26,825 per ten gram respectively.

Silver, however, found fresh buying support from industrial units and coin manufacturers and rebounded by Rs 400 to Rs 36,600 per kg. The metal had lost Rs 100 per ten gram yesterday. Silver ready rebounded by Rs 400 to Rs 36,600 per kg and weekly-based delivery by Rs 300 to Rs 36,470 per kg after the white metal rose 1.6 percent to USD 15.91 an ounce overseas. Silver coins also spurted by Rs 1,000 to Rs 60,000 for buying and Rs 61,000 for selling of 100 pieces.