Silver coins hit all-time high of Rs 30,600 for 100 pieces

Silver coin prices On Tuesday jumped by Rs 200 to scale a new peak at Rs 30,600 per 100 pieces on the bullion market here, on higher demand in the month of festivities.

Silver coins, used for gifting purpose during marriages and as offering to God, remained high in demand, and traded at record levels. Prices shot up by Rs 200 to Rs 30,500 for buying and Rs 30,600 for selling of 100 pieces. Silver prices spurted by Rs 450 to Rs 24,300 a kg on brisk buying by coins makers and stockists to meet demand for the coming festivals and marriage season.

However, gold fell by Rs 20 to Rs 15,370 per 10 gm on weak global trend and reduced offtake at higher levels. Gold fell in London as firm dollar lowered demand for the metal as an alternative investment option, they said. Standard gold and ornaments declined by Rs 20 each to Rs 15,370 and Rs 15,220 per 10 gm respectively and sovereign lost Rs 50 at Rs 12,600 per piece of 8 gm.

On the other hand, silver ready recorded a hefty rise of Rs 450 to Rs 24,300 a kg and weekly-based delivery by Rs 730 to Rs 24,390 a kg.