Silver hits record high level on global cues, gold shoots up | business | Hindustan Times
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Silver hits record high level on global cues, gold shoots up

Silver hit yet another peak level at Rs 46,930 per kg on Monday on brisk buying by stockists, driven by a firm global trend where it climbed to 30-year high, while gold gained on local demand.

business Updated: Jan 03, 2011 15:18 IST

Silver hit yet another peak level at Rs 46,930 per kg on Monday on brisk buying by stockists, driven by a firm global trend where it climbed to 30-year high, while gold gained on local demand.

Trading sentiments for silver turned bullish, as the metal prices in overseas markets rose to a 30-year high and traded above $ 31.00 an ounce. Increased offtake by industrial units and coins makers further supported the uptrend in silver prices.

On the domestic front, silver ready rose by Rs 180 to Rs 46,930 per kg, a record level and silver weekly-based delivery by Rs 170 to Rs 46,450 per kg.

Silver coins too traded in positive zone with a sharp gain of Rs 300 to an all-time high of Rs 50,500 for buying and Rs 50,600 for selling of 100 pieces.

In line with a general firming trend, gold of 99.9 and 99.5 % purity added Rs 20 each to Rs 20,980 and Rs 20,860 per 10 grams, respectively.

However, sovereign continued to be asked at previous level of Rs 16,900 per piece of eight grams.