Gold recovered earlier losses to steady on Friday as the dollar pulled back from session highs, while platinum was headed for its biggest weekly rise since March 2020 on expectations for a revival in auto sector demand.
Gold price on Thursday inched up to Rs 49,000 from Rs 48,590, while
silver price fell by Rs 2,000 to trend at Rs 69,000 per kg, according to the
Good Returns website.
Gold jewellery prices vary across India, the second-largest consumer of the metal, due to differing excise duty, state taxes, and making changes in different states. In New Delhi, the price of 22-carat gold fell by Rs 440 to Rs 46,900 per 10 gm, while in Chennai it declined to Rs 45,290. In Mumbai, the rate jumped to Rs 48,000, according to the
Good Returns website. The price of 24-carat gold in Chennai was Rs 49,400 per 10 gm. In the international market, Silver rose on Wednesday, helped by hopes that global stimulus measures would prompt a pick-up in industrial demand, after a sharp decline from a near-eight-year peak scaled with the help of a social media-inspired buying frenzy.
Record jump in iShares Silver Trust holdings on Tuesday
Feb 3 (Reuters) - Silver rose on Wednesday, helped by hopes global stimulus measures would prompt a pick-up in industrial demand, after a sharp decline from a near eight-year peak scaled with the help of a social media-inspired buying frenzy.
Spot silver rose 0.6% to $26.76 per ounce at 1:49 p.m. EST (1849 GMT). It fell more than 8% on Tuesday.
The recent moves have attracted a lot of new interest in silver, “not necessarily Reddit investors, but just people out there looking at silver as an undervalued asset,” said Bob Haberkorn, senior market strategist at RJO Futures.
Canadian silver mining companies give up Monday s gains as apparent squeeze fails
by The Canadian Press
Last Updated Feb 2, 2021 at 3:44 pm EDT
Financial numbers flow on the digital ticker tape at the TMX Group in Toronto s financial district on May 9, 2014. THE CANADIAN PRESS/Darren Calabrese
CALGARY Canadian silver mining companies are giving back double-digit share price increases gained Monday as an apparent drive by online retail investors to boost interest in the shiny metal grinds to a halt.
In late-afternoon trading on the Toronto Stock Exchange, First Majestic Silver Corp. was down about 23 per cent, mirroring its gain on Monday, while Silvercorp Metals Inc. was down about 17 per cent, offsetting its Monday gain of 25.7 per cent.
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