New Delhi: Silver prices tumbled by Rs 1,300 to Rs 53,000 per kg in the national capital on Saturday 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.

In the domestic market, silver ready plunged Rs 1,300 to Rs 53,000 per kg and weekly-based delivery by Rs 1,030 to Rs 51,130 per kg. Silver coins also tumbled by Rs 2,000 to Rs 58,000 for buying and Rs 59,000 for selling of 100 pieces.

On the other hand, gold of 99.9 and 99.5 per cent purity held steady at Rs 26,640 and Rs 26,500 per 10 gram respectively. Sovereign ended flat at Rs 21,700 per piece of 8 gram, in restricted buying.

(Agencies)