Silver shines to scale Rs 51k milestone, gold eases

The uninterrupted bull-run led the silver to scale a new milestone of Rs 51,000 per kilo at the bullion market here today on consistent speculative buying triggered by surging global market.

Meanwhile, gold eased further on lack of local buying interest at higher level amidst subdued off-take from jewellers.

"Escalating crises in Middle East (West Asia) is pushing up the crude prices and generating all-round inflationary trend in commodities, including precious metals," traders said.

Silver ready (.999 fineness) rallied by Rs 250 per kg to end at Rs 51,005 from overnight closing level of Rs 50,755.

Standard gold (99.5 purity) moved down by Rs 30 per 10 grams to finish at Rs 20,770 as against Rs 20,800 previously.

 

Pure gold (99.9 purity) also edged down by a similar margin to conclude at Rs 20,870 per 10 grams from Rs 20,900 yesterday. In Europe, spot gold was bid at $1,414.66 an ounce in early trade.  

Spot silver was bid at $34.08 an ounce. It hit a 31-year high at $34.30 last week.