Festive buying sentiment gets a boost as bullion prices cool off across India, with southern cities still commanding a premium over northern markets despite the overall decline.
The rate of silver on Sunday morning was trading 1.80 per cent up at Rs 57,670 per kilo against its closing price in the last session, according to MCXindia.com.
In the international market, gold was trading lower at USD 1,893 per ounce and silver was flat at USD 27.79 per ounce.
In the previous trade, gold had closed at Rs 51,000 per 10 gram.
The dollar’s relative value recovery against other currencies also pushed the gold prices to a downward direction.
For Silver, the September contract is currently trading at Rs 76,900 per kilogram, higher by Rs 848 or 1.12 per cent from its previous close.
The rupee fell 4 paise to close at 74.84 (provisional) against the US dollar on Thursday, tracking weak domestic equities and strong American currency.
Following gold’s footsteps, silver too rose by Rs 1,408 to Rs 49,483 per kg from Rs 48,075 per kg on Monday.
On the last day of year 2018, the precious metal had closed at Rs 39,949 per 10 gram.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity rose by Rs 100 each to Rs 33,720 and Rs 33,550 per 10 gram, respectively.
