Gold down by Rs 40, silver rises by Rs 300 on high offtake

New Delhi, Feb 17: Gold on Friday fell by Rs 40 to Rs 28,300 per 10 grams on sluggish demand at prevailing higher levels. However, silver recovered by Rs 300 to Rs 56,200 per kg on increased industrial offtake.

On the domestic front, gold of 99.9 and 99.5 per cent purity declined by Rs 40 each to Rs 28,300 and Rs 28,160 per 10 grams respectively, while sovereigns remained stable at Rs 23,400 per piece of eight grams in limited deals.

However, silver ready found fresh buying support from industrial units and coin makers and recovered by Rs 300 to Rs 56,200 per kg and weekly based delivery by Rs 60 to Rs 56,360 per kg. Silver coins also moved up by Rs 1,000 to Rs 68,000 for buying and Rs 69,000 for selling of 100 pieces.

PTI