Silver at all-time high of Rs 33,300 a kg on global cues

Silver added Rs 125 to scale a new peak of Rs 33,300 per kg in the national capital today, but gold held steady due to lack of buying support on account of 'Sharadh', a Hindu ritual associated with last rites.

Sustained buying kept silver prices in overseas markets at astronomical levels last seen in October, 1980, according to marketmen.

Silver prices in international markets advanced 0.8 per cent to $21.60 an ounce, the highest level since October, 1980. The movement in the domestic market was mainly led by international prices, the marketmen added.

They said most of the aggressive demand came from stockists keen to hoard the precious metal ahead of the forthcoming festival and marriage season.

At home, silver ready rose by Rs 125 to Rs 33,300 per kg, a level never seen before. Silver weekly-based delivery also rose by Rs 115 to Rs 32,835 per kg on speculative buying.

However, silver coins held steady at Rs 35,300 for buying and Rs 35,400 for selling of 100 pieces. 

On the other hand, gold of 99.9 per cent and 99.5 per cent purity remained unchanged at Rs 19,400 and Rs 19,300 per ten grams, respectively. Sovereigns also held steady at Rs 15,300 per piece of eight grams.