Silver price jumps Rs 2000 to Rs 45K/kg; gold fallshttps://indianexpress.com/article/business/commodities/silver-price-jumps-rs-2000-to-rs-45k-kg-gold-falls-5902716/

Silver price jumps Rs 2000 to Rs 45K/kg; gold falls

Increased offtake by industrial units and coin makers and robust global trend pushed the silver price higher, traders said. The association’s vice president Surendra Jain was quoted by PTI as saying that strong overseas trend led to the increase in silver price.

While this is the highest level in the last few months, the silver price had crossed Rs 70,000 per kilogram in 2011. I

Price of silver on Tuesday rose by Rs 2,000 to Rs 45,000 per kilogram while gold price declined by Rs 100 to Rs 38,370 per 10 gram in the national capital, according to the All India Sarafa Association.

Increased offtake by industrial units and coin makers and robust global trend pushed the silver price higher, traders said. The association’s vice president Surendra Jain was quoted by PTI as saying that strong overseas trend led to the increase in silver price.

While this is the highest level in the last few months, the silver price had crossed Rs 70,000 per kilogram in 2011. In the national capital, gold of 99.9 per cent and 99.5 per cent purity declined by Rs 100 to Rs 38,370 and Rs 38,200 per 10 gram, respectively.

On Monday, gold regained its all-time high mark of Rs 38,470 per 10 gram. On Tuesday, silver ready soared by Rs 2,000 to Rs 45,000 per kilogram while weekly-based delivery price surged by Rs 956 at Rs 44,280 per kg.

Meanwhile, globally gold fell 2 per cent on Tuesday, reversing course from earlier in the session when it scaled a 6-year peak, after the US said it would delay tariffs on some Chinese items and on news that both sides agreed to continue talks, according to a Reuters report. —With PTI & Reuters