Gold, silver hit new high on global rally

Gold prices here surged to a new peak of Rs 19,750 per ten grams today, on frantic buying by stockists in tandem with a strong rally in overseas markets.

Silver prices, too, jumped to an all-time high of Rs 34,900 per kg, as retailers and industrial units bought the white metal, fearing further escalation in its prices due to upcoming festival season demand.

This matched the upbeat trend in overseas market, with gold rising to 1,351 dollar an ounce and silver to 23.07 dollar an ounce, the highest since September 1980.
    
In the national capital, the gold of 99.9 and 99.5 per cent purity surged by Rs 270 each to set a new peak of Rs 19,750 and Rs 19,650 per ten grams respectively. Sovereign followed suit and rose to fresh high of Rs 15,600 per piece of eight gram.
    
Silver, in line with a general firming trend, became dearer by Rs 1200 to Rs 34,900 per kg and weekly-based delivery by Rs 1190 to Rs 34,380 per kg. Silver coins also enquired higher by Rs 300 to Rs 35,700 for buying and Rs 35,800 for selling of 100 pieces.