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Silver prices surge to all-time high of Rs 56,600/kg

Press Trust of India 


Surpassing all previous records, soared to an all-time high of Rs 56,600 per kg in the national capital today on heavy buying by stockists and industrial units, sparked by a rising global trend.

While spurted by Rs 600 to all-time high of Rs 56,600 per kg, its more expensive counterpart, gold, climbed by Rs 70 to Rs 21,090 per 10 grams on scattered buying.

The trading sentiment at home turned bullish as gained ground in global amid fighting in and concerns about spurring demand for a safe haven.

In global markets, gold rose by $4.73 to $1,427.75 an ounce and by 0.7% to $37.72 an ounce.

On the domestic front, silver ready surged by Rs 600 to Rs 56,600 per kg and weekly-based delivery by Rs 535 to Rs 56,100 per kg. Silver coins held steady at Rs 61,500 for buying and Rs 62,000 for selling of 100 pieces.

Similarly, gold of 99.9 and 99.5% purity rose by Rs 70 each to Rs 21,090 and Rs 20,970 per ten grams, respectively. However, sovereigns held steady at Rs 17,500 per piece of eight grams.

First Published: Thu, March 31 2011. 15:21 IST