Gold prices hold steady, silver slides on low offtake

New Delhi: Gold prices held steady at Rs31,450 per 10 gram on Monday in scattered deals even as it weakened overseas. However, silver prices declined by Rs150 to Rs39,500 per kg due to reduced offtake by consuming industries amid a weak trend overseas.

Traders attributed the fall in silver prices to a reduced offtake by industrial



units and coin makers at the local spot market. Besides, a weak global trend as the dollar held steady after data showed the US economy added a larger-than-expected number of jobs in February, influenced the sentiment.

Globally, gold rate fell 0.11% to $1,321.70 an ounce and silver by 0.24% to $16.53 an ounce in Singapore.