Gold, silver leap to new record

Mumbai: Silver hit a new high of Rs 53,600 per kilo at the bullion market here on Saturday amid ever-increasing speculative build-up and rising industrial demand.

Gold also recovered smartly on renewed buying from stockists and jewellers ahead of marriage season.

Globally, the precious metals are continuously surging due to turmoil in the Middle East and North Africa providing the rallying point in the domestic market.

Silver ready (.999 fineness) rocketed by Rs 1,485 per kg to Rs 53,600 a kilo today against overnight closing level of Rs 52,115.

Standard gold (99.5 purity) recovered by Rs 195 to Rs 20,990 per ten grams as compared to Rs 20,795 yesterday.

Pure gold (99.9 purity) also shot up by Rs 205 per ten grams to finish at Rs 21,100 as against Rs 20,895 previously.

In New York, gold for April delivery advanced by USD 12.20 to settle at USD 1,428.60 an ounce on the Comex Division of NYMEX yesterday.

May silver added USD 1 to USD 35.33 an ounce, a 31-year high.