Silver prices shot up to a new high of Rs 61,700 per kg in the national capital on Monday on increased buying by stockists in line with a firm global trend.
Gold, however, was down by Rs 5 to Rs 21,540 per 10 grams in the domestic market.
Attributed the soaring silver prices to strong global cues, traders said the trading sentiment remained firm after gold in global markets hit a new high for the ninth straight day, the best run since March 2008, as investors sought precious metals as a hedge against inflation.
Gold in global markets, which normally sets the price trend on the domestic front, gained 0.2 % to $1,478.18 an ounce and silver by 2.5 % to $ 41.95 an ounce, the highest level since 1980.
On the domestic front, silver ready was on a record making spree and surged by Rs 300 to Rs 61,700 per kg and weekly-based delivery by Rs 265 to Rs 60,910 per kg.
Silver coins remained stable at Rs 66,500 for buying and Rs 67,000 for selling of 100 pieces.
{{/usCountry}}Silver coins remained stable at Rs 66,500 for buying and Rs 67,000 for selling of 100 pieces.
{{/usCountry}}On the other hand, gold of 99.9 and 99.5 per cent purity declined by Rs 5 each to Rs 21,540 and Rs 21,420 per 10 grams, respectively.
Sovereign, however, held ruled flat at Rs 17,700 per piece of eight grams.