Silver peaks to all-time high of Rs 56,600/kg

Surpassing all the previous records, silver soared to an all-time high of Rs 56,600 per kg in the national capital today on heavy buying by stockists and industrial units, sparked by a rising global trend.

While silver spurted by Rs 600 to an all-time high of Rs 56,600 per kg, gold climbed by Rs 70 to Rs 21,090 per 10 grams on scattered buying.

The domestic trading sentiment turned bullish as the precious metals gained ground in the global markets amid fighting in Libya and concerns about European debt spurring the demand for a safe investment haven.

In the global markets, gold jumped by $4.73 to $1,427.75 an ounce and silver 0.7 per cent to $37.72 an ounce.

At the domestic front, silver ready surged by Rs 600 to Rs 56,600 per kg and weekly-based delivery by Rs 535 to Rs 56,100 per kg. Silver coins held steady at Rs 61,500 for buying and Rs 62,000 for selling of 100 pieces.

Similarly, gold of 99.9 and 99.5 per cent purity rose Rs 70 each to Rs 21,090 and Rs 20,970 per ten grams, respectively. However, sovereigns held steady at Rs 17,500 per piece of eight grams.

COMMENT NOW