Silver climbed a new high by adding Rs. 150 to Rs. 50,700 per kg on the bullion market today on heavy speculative buying, amid firm global trends. However, gold slipped by Rs. 110 to Rs. 21,070 per 10 grams, due to sluggish demand at existing high levels.
Traders said firming trends in silver prices at futures trading further fuelled the uptrend.
On the other hand, gold declined on lack of demand at existing high levels, they said.
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Silver in global markets, which normally sets a price trend on the domestic front, gained 0.7 per cent to $ 34.11 an ounce.
On the domestic front, silver ready remained on record making spree and added another Rs. 150 to set a new peak of Rs. 50,700 per kg. It had gained Rs. 300 in the previous session.
Similarly, the silver weekly-based delivery skyrocketed by Rs. 755 to record high of Rs. 51,200 per kg. It had climbed by Rs. 775 yesterday.
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Silver coins also traded higher by Rs. 100 to Rs. 54,600 for buying and Rs. 500 to Rs. 55,100 for selling of 100 pieces.
Gold of 99.9 and 99.5 per cent purity fell by Rs. 110 each to Rs. 21,070 and Rs. 20,950 per 10 grams, respectively.
Sovereign continued to be asked around previous level of Rs. 17,200 per piece of eight grams.