Silver prices touched a new high by adding Rs 150 to Rs 50,700 per kg at the bullion market today on heavy speculative buying amid a firm global trend. However, gold slipped by Rs 110 to Rs 21,070 per 10 grams due to sluggish demand at the existing high levels.

Traders said a firming trend in silver prices at the futures trading further fuelled the uptrend. On the other hand, gold declined due to lack of demand at the existing high levels.

Silver in global markets, which normally set the price trend at the domestic front, gained 0.7 per cent to $34.11 an ounce.

At the domestic front, silver ready remained on record making spree and added another Rs 150 to set a new peak of Rs 50,700 per kg. It had gained Rs 300 in the previous session.

Similarly, weekly-based delivery skyrocketed by Rs 755 to a record high of Rs 51,200 per kg. It had climbed by Rs 775 on Monday. Silver coins also traded higher by Rs 100 to Rs 54,600 for buying and Rs 500 to Rs 55,100 for selling of 100 pieces.

Gold of 99.9 and 99.5 per cent purity fell by Rs 110 each to Rs 21,070 and Rs 20,950 per 10 grams, respectively. Sovereign continued to be asked around the previous level of Rs 17,200 per piece of eight grams.

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