Silver spurts Rs 380/kg on strong industrial demand, gold steady

New Delhi: Silver prices Tuesday spurted by Rs 380 per kg on strong industrial demand while gold was steady at Rs 31,850 per 10 gram at the local market here.

Rising for the second day, silver jumped by Rs 380 to close at 37,740 per kg on strong demand from industrial units and coin makers.

Gold prices, however, were flat at Rs 31,850 per 10 gram amid subdued demand from domestic jewellers despite firm global trends.

Traders said gold prices were unchanged mainly due to subdued demand from jewellers even as firm global cues checked any fall from the previous day.

Gold of both 99.9 per cent and 99.5 per cent purities remained flat at Rs 31,850 and Rs 31,700 per 10 gram, respectively.

Sovereign gold, however, moved up by Rs 100 to Rs 24,800 per piece of 8 grams.

Gold traded higher at USD 1,237.85 an ounce in New York, while silver moved up to USD 14.50 an ounce.

Meanwhile, silver ready zoomed by Rs 380 to Rs 37,740 per kg, while weekly-based delivery jumped by Rs 619 to Rs 36,368 per kg.

Silver coins, however, also ended flat at Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces.