Silver hits new high at Rs 46,200/kg, gold up too

Last Updated: Wednesday, December 29, 2010 - 23:42

New Delhi: Silver hit a new peak at Rs 46,200 per kg in the national capital on Wednesday on brisk buying by stockists and jewellers, triggered by a firm trend in global markets. Gold also rose by Rs 165 to Rs 20,955 per 10 grams on local buying support for the ongoing marriage season.

Silver prices spurted by Rs 1,200 to Rs 46,200 per kg on firming global cues, amid a strong demand from industrial units.

Trading sentiments for gold turned bullish as it rose the most in a month in global markets, after the dollar`s retreat boosted demand for the precious metal as an alternative investment.

The gold in global markets, which normally sets the price trend at the domestic front, surged by USD 22.10 to USD 1406.20 an ounce.

Gold of 99.9 and 99.5 per cent purity jumped up by Rs 165 each to Rs 20,955 and Rs 20,835 per 10 grams, respectively. Similarly, sovereign rose by Rs 50 to set a new peak of Rs
16,850 per piece of eight grams.

Silver ready rose by Rs 1,200 at the new record of Rs 46,200 per kg and weekly-based delivery by Rs 1270 to Rs 45,800 per kg. Silver coins also shot up by Rs 300 to the record level of Rs 49,700 for buying and Rs 49,800 for selling of 100 pieces.

PTI



First Published: Wednesday, December 29, 2010 - 23:42
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