Silver prices at new peak of Rs 27,795 per kg

Last Updated: Saturday, October 10, 2009 - 17:38

Mumbai: Silver continued its surge scaling yet another historic high for the fourth straight session in an otherwise steady bullion market here on Saturday due to hectic buying by stockists despite weak overseas cues.

Silver ready (.999 fineness) firmed up further by Rs 155 per kilo to close at Rs 27,795 from yesterday`s closing level of Rs 27,640.
Standard gold and pure gold, however, ruled steady in the absence of market-moving factors.

In New York, gold futures finished lower on Friday, as the dollar gained back some ground after Federal Reserve Chairman Ben Bernanke said loose monetary policy will end eventually.

December silver futures fell 12 cents to USD 17.69 an ounce.
Gold for December delivery finished down by USD 7.70, or 7.3 percent, at USD 1,048.60 an ounce.

Turning to the domestic market, standard gold (99.5 purity) and pure gold (99.9 purity) both closed unchanged at Rs 15,855 and Rs 15,930 per ten grams respectively.

Bureau Report




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