Silver Tumbles By Rs 1,300

Silver prices tumbled by Rs 1,300 to Rs 53,000 per kg in the national capital today on emergence of profit-selling by stockists amid weak global trend. Gold, however, held steady at Rs 26,640 per 10 gram in restricted trade.

Traders said profit-selling by stockists, at the current high levels, and weak trend in the New York market pulled down silver prices here.

Retailers, meanwhile, refrained from buying at prevailing higher levels, which kept the gold prices steady, they said. Silver in global markets, which normally set price trend on the domestic front, shed 2.28 per cent to USD 29.97 dollar an ounce in New York.

From: http://ping.fm/enbTH