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Updated: January 3, 2011 17:07 IST

Silver hits record high level on global cues, gold shoots up

PTI
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Prospectivwe customers look at a jewellery collection at an expo in Visakhapatnam. File photo
The Hindu Prospectivwe customers look at a jewellery collection at an expo in Visakhapatnam. File photo

Silver hit yet another peak level at Rs. 46,930 per kg today on brisk buying by stockists, driven by a firm global trend where it climbed to 30-year high, while gold gained on local demand.

Trading sentiments for silver turned bullish, as the metal prices in overseas markets rose to a 30-year high and traded above $ 31.00 an ounce. Increased offtake by industrial units and coins makers further supported the uptrend in silver prices.

On the domestic front, silver ready rose by Rs. 180 to Rs. 46,930 per kg, a record level and silver weekly-based delivery by Rs. 170 to Rs. 46,450 per kg.

Silver coins too traded in positive zone with a sharp gain of Rs. 300 to an all-time high of Rs. 50,500 for buying and Rs. 50,600 for selling of 100 pieces.

In line with a general firming trend, gold of 99.9 and 99.5 per cent purity added Rs. 20 each to Rs. 20,980 and Rs. 20,860 per 10 grams, respectively.

However, sovereign continued to be asked at previous level of Rs. 16,900 per piece of eight grams.

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