Commodities

Silver surges to Rs 54,600

PTI New Delhi | Updated on March 14, 2011

Silver regained its peak level by rising Rs 300 to Rs 54,600 per kg today on brisk buying for seasonal demand, amid a firm global trend. Gold also surged by Rs 115 to Rs 21,310 per 10 grams.

Silver recovered to the peak level last seen on March 10, as the trading sentiment bolstered after the precious metals came in demand in the global market in the aftermath of Japan’s strongest earthquake and intensifying violence in Libya.

Besides, hectic buying by retail customers for the ongoing marriage season further fuelled the uptrend.

At the domestic front, silver ready surged by Rs 300 to Rs 54,600 per kg and silver weekly-based delivery by Rs 40 to Rs 54,050 per kg.

However, silver coins dropped by Rs 500 to Rs 58,200 for buying and Rs 58,700 for selling of 100 pieces on reduced offtake at existing high levels.

In line with a general firming trend, gold of 99.9 and 99.5 per cent purity shot up by Rs 115 each to Rs 21,310 and Rs 21,190 per 10 grams, respectively. Sovereigns also gained Rs 50 to Rs 17,500 per piece of eight grams in restricted deals.

Published on March 14, 2011

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