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| Silver coin hits new high at Rs 30,100/100 pieces |
| Press Trust of India / New Delhi Aug 25, 2009, 00:43 IST |
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Silver coins rose by Rs 100 to scale a new peak at Rs 30,100 per 100 pieces in the national capital today on good buying by stockists as the festive season begins.
Elsewhere, gold and silver prices recorded handsome gains on the back of a better overseas trend after the dollar eased against leading currencies, boosting demand for the bullion as an alternate investment.
Gold in the overseas markets rose 45 cents, or 0.1 per cent to $954.30 an ounce after advancing 0.6 per cent last week. Silver rose 1.8 per cent to $14.43 an ounce.
Marketmen said the bullion, which normally move in tandem with the international trend, traded higher as investors shifted their funds from forex to metals as a better option. They said demand for precious metals, particularly silver coins used for gifting purpose in the festival season, spurted to touch an all-time high.
Silver coins rose by Rs 100 to Rs 30,000 for buying and Rs 30,100 for selling of 100 pieces. Silver ready rose by Rs 300 at Rs 23,600 a kg and weekly-based delivery by Rs 190 at Rs 23,310 a kg.
In Mumbai, gold maintained to rule its 15K-level for the second trading day on the bullion market on persistent stockists demand.
In the local market, standard gold (99.5 purity) firmed up by Rs 30 per ten grams to Rs 15,085 as against the last weekend's close of Rs 15,055.
Pure gold (99.9 purity) also moved up by Rs 25 per ten grams to Rs 15,155 from Rs 15,130 previously.
Silver ready (.999 fineness) advanced by Rs 140 per kilo Rs 23,850 from Rs 23,710.
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