Silver prices strengthened by Rs 425 to Rs 56,600 per kg in the national capital on Wednesday on increased offtake by industrial units and jewellers for the ongoing marriage season amid firming global trend.

However, gold lacked necessary buying support at prevailing higher levels and ended flat at Rs 28,890 per 10 gm.

Traders said increased offtake of silver by industrial units and jewellers for the ongoing wedding season amid firming trend in overseas markets further supported the silver prices.

Silver advanced 0.4 per cent to USD 31.81 an ounce in Singapore.

On the domestic front, silver ready advanced by Rs 425 to Rs 56,600 per kg, while weekly-based delivery rose by Rs 325 to Rs 56,205 per kg. The white metal had gained Rs 575 yesterday.

Silver coins remained stable at Rs 63,000 for buying 64,000 for selling of 100 pieces.

On the other hand, gold of 99.9 and 99.5 per cent purity held steady at Rs 28,890 and Rs 28,750 per 10 gm, respectively. Sovereign continued to be asked around previous level of Rs 23,500 per piece of eight gram.

Keywords: bullion market

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