Bullion: Silver prices firmed up on the bullion market

Bullion: Silver prices firmed up on the bullion market during the week under review on brisk buying by stockists and coin makers while gold ended steady at Rs 30,830 per 10 grams.

Traders said brisk buying by stockists and coin makers mainly led to rise in silver prices while restricted physical buying following ending of marriage season kept gold steady. In the national capital, silver ready commenced higher and day-to-day increased buying by stockists and coin makers it rallied to close at Rs 47,200 per kg, showing gains of Rs 800. Similarly, silver weekly-based delivery ended higher by Rs 885 to Rs 47,085 per kg this week.

Silver coins also spurted by Rs 1,000 to Rs 88,000 for buying and Rs 89,000 for selling of 100 pieces. On the other hand, gold of 99.9 and 99.5 per cent purity after moving between gains and losses on alternate bouts of buying and selling, before ending at last levels of Rs 30,830 and Rs 30,630 per 10 grams, respectively. Sovereigns, however, lacked necessary follow up support and shed Rs 50 to Rs 25,350 per piece of eight grams.