Silver is emerging as the new gold as price rallies 4.8% in a day

The rally, set since March end, has delivered a 39 per cent return to investors as against 14.3 per cent for gold

Silver is becoming the new gold. The price of the white precious metal touched Rs 54,850 per kg in the spot market after rallying 4.8 per cent on Tuesday. On the MCX, September futures are trading above Rs 57,000 per kg. Since March-end, silver has given 39 per cent return to investors as against gold’s 14.3 per cent. The metal is now fast approaching the Rs 60,000-mark.

On the other hand, gold closed 0.5 per cent higher at Rs 49,579 per 10 gram in the spot market on Tuesday. On the MCX, the yellow metal was trading at Rs 49,200 per