Snapping its four-session rising streak, silver today fell by Rs 100 to Rs 53,000 per kg due to reduced offtake at prevailing levels.
However, gold steady at previous level of Rs 30,300 per 10 grams.
Traders said reduced offtake by coin makers at prevailing higher levels and subdued demand from other consuming industries mainly led to the fall in silver prices.
Restricted buying activity as demand declined at current prices helped gold to remain steady, they said.
In the national capital, silver ready declined by Rs 100 to Rs 53,000 per kg and weekly-based delivery by Rs 30 to Rs 53,250 per kg. The white metal had gained Rs 800 in last four trading sessions.
Silver coins remained steady at Rs 62,000 for buying and Rs 63,000 for selling of 100 pieces.
On the other hand, gold of 99.9 and 99.5 per cent purity traded flat at Rs 30,300 and Rs 30,100 per kg respectively, while sovereigns enquired at previous level of Rs 24,450 per piece of eight grams.
Dolphin’s export gas compressor upgrade project commissioning
A major upgrade of Dolphin Energy’s export gas compressor at Ras Laffan will enable capacity increase to 3.2bn standard cubic feet a day (scf/d) from the current average rate of 2bn scf/d.
‘UAE’s sound economic policy pays off’
His Highness Shaikh Humaid bin Rashid Al Nuaimi, Member of Supreme Council and Ruler of Ajman, said on Wednesday that the sound economic policy adopted by the UAE, under the leadership of the Preside
KFH sponsors 12 graduation projects
Kuwait Finance House (KFH) took part in the 24th Engineering Design Expo for the College of Engineering and Petroleum at Kuwait University.
KFH sponsored several projects prepared by a gr
Emirates NBD launches $1 bn bond
Emirates NBD launched a $ 1 billion core capital-boosting bond yesterday, amid healthy
demand, allowing the Dubai lender to tighten earlier price guidance.
The Tier 1 bond launched at a f
Flydubai begins Salalah flights
Flydubai on Wednesday began flights to Salalah, in the Sultanate of Oman, bringing its operational network to 60 destinations.
The airline also launched flights to the Sri Lankan city of