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Silver regained its peak level after almost two weeks on Wednesday by rising Rs 350 to Rs 54,600 per kg on brisk buying by stockists. Gold, however, declined further by Rs 25 to Rs 21,195 per 10 grams on sluggish demand.
Traders said brisk buying by stockists and industrial units mainly pushed up silver prices to regain its highest level last seen on March 14.
On the other hand, sluggish demand at existing high levels and end of the current marriage season, amid a weakening global trend led to a further fall in gold prices, they said.
Gold in global markets, which normally sets price trend on the domestic front, declined by 0.02 per cent to $ 1,428.50 an ounce. Silver marginally rose by 0.05 per cent $ to 36.40 an ounce.
On the domestic front, silver ready surged Rs 350 to Rs 54,600 per kg and silver weekly-based delivery by Rs 305 to Rs 54,200 per kg. Silver coins also gained Rs 100 to Rs 59,000 for buying and Rs 59,500 for selling of 100 pieces.
Gold of 99.9 and 99.5 per cent purity remained weak and shed another Rs 25 each to Rs 21,195 and Rs 21,075 per 10 grams, respectively.
However, sovereigns remained stable at Rs 17,500 per piece of eight grams in limited deals.
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