A divergent trend developed on the bullion market today as silver recovered on rising demand from industrial units and gold declined on reduced offtake at higher rate.
While silver rose by Rs. 200 to Rs. 45,000 per kg, gold shed Rs. 10 to Rs. 20,640 per 10 grams in mixed pattern of trade.
Market analysts said the silver remained in demand among industrial units and coins manufacturers on expectations of more hike in its prices in coming days.
They said buying in gold was restricted at existing high levels.
Silver ready rose by Rs. 200 to Rs. 45,000 per kg and weekly-based delivery by Rs. 125 to Rs. 44,550 per kg. Its coin held steady at Rs. 50,500 for buying and Rs. 50,600 for selling of 100 pieces.
On the other hand, gold of 99.9 and 99.5 per cent purity met with resistance at existing higher levels and traded lower by Rs. 10 each to Rs. 20,640 and Rs. 20,520 per kg.
However, sovereign remained stable at Rs. 16,950 per piece of eight grams.