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Rediff.com  » Business » Silver hits another record at Rs 68,600

Silver hits another record at Rs 68,600

Last updated on: April 21, 2011 16:18 IST

Silver hits another record at Rs 68,600

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Continuing its record setting spree, silver spurted by Rs 2,300 to trade at fresh high of Rs 68,600 per kg today, largely in tandem with a firming global trend amid pick up in domestic demand.

On the other hand, gold held steady at prevailing level of Rs 22,060 per 10 grams in restricted activity, despite it soaring to record highs in global market.

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Silver coins followed suit and spurted by Rs 2,000 to record level of Rs 74,000 for buying and Rs 74,500 for selling of 100 pieces.

Sentiments remained bullish as buying activity gathered momentum after silver in overseas market gained 1.5 per cent to $45.95 an ounce, a highest level since 1980.

Gold advanced to trade at record $1,508.28 an ounce, as a weaker dollar and concern about debt and faster inflation spurred demand for an alternative investment.

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On the domestic front, silver ready shot up by Rs 2,300 to trade at fresh high of Rs 68,600 per kg and weekly-based delivery by Rs 2,435 to Rs 67,490 per kg.

However, gold 99.9 and 99.5 per purity held steady at Rs 22,060 and Rs 21,940 per 10 grams, while sovereigns traded flat at Rs 18,000 per piece of eight grams in restricted buying at existing higher levels.



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