At Rs 55,000,silver sets another record

Both the precious metals witnessed heavy profit taking in morning trade after yesterday8217;s record high as speculators resorted to cashing on available opportunity,though silver quickly bounced back to reach a new milestone,while gold evaded recovery owing to selling pressure.

Silver ready .999 fineness rallied by Rs 225 per kg to close at Rs 55,195 from Monday8217;s closing level of Rs 54,970.

However,standard gold 99.5 purity declined by Rs 65 per 10 grams to end at Rs 21,060 from overnight closing level of Rs 21,125.

Pure gold 99.9 purity also fell by Rs 60 per 10 grams to finish at Rs 21,165 as against Rs 21,225 yesterday.

In Europe,spot gold was bid at USD 1,431.75 an ounce in early trade as against USD 1,430.74 late in New York on yesterday.

Silver was bid at USD 36.15 an ounce from USD 35.85 previously.