Gold, silver climb a record on overseas rally

New Delhi: Gold on Friday rose by Rs 30 to a record of Rs 22,090 per ten grams, while silver surged by Rs 1400 to an all-time high of Rs 70,000 per kg on sustained buying by stockists amid a rally overseas.

Trading sentiment remained bullish at home even as gold in international markets advanced to the peak of USD 1,511.47 an ounce as a weaker dollar and debt concerns boosted the metal?s appeal as an alternative investment.

Silver also rose to its 31-year high at 46.86 dollar an ounce, the highest price since 1980.

Besides, retail customers and industrial units buying further fuelled the uptrend.

On the domestic front, gold of 99.9 and 99.5 per cent purity rose by Rs 30 each to Rs 22,090 and Rs 21,970 per ten grams respectively. Sovereign, however, held steady at Rs 18,000 per piece of eight grams in restricted buying.

Silver ready continued its winning streak for the sixth straight day and surged by Rs 1,400 to Rs 70,000 per kg and weekly-based delivery by Rs 510 to Rs 68,000 per kg. Silver coins also climbed by Rs 1,000 to a new record of Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.

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