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This is an archive article published on April 16, 2011

Gold,silver soar; scale new peaks

Gold and silver set new record highs at the bullion markets in Mumbai.

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Gold and silver set new record highs at the bullion markets in Mumbai on aggressive buying by investors and speculators,triggered by zooming global markets.

The white metal marched ahead vigorously on bullish industrial demand as well as investors buying,touching another milestone of Rs 64,845 a kg.

Gold attracted renewed marriage seasonal demand amid heavy off-take by stockists. The yellow metal went up to capture new peak at Rs 21,450.

Silver ready (.999 fineness) jumped by a hefty Rs 915 per kg to finish at Rs 64,845 from Friday’s closing level of Rs 63,930.

Standard gold (99.5 purity) firmed up by Rs 95 per 10 grams to close at Rs 21,450 from Rs 21,355 yesterday.

Pure gold (99.9 purity) rose by Rs 100 per 10 grams to end at Rs 21,560 as compared to Rs 21,460 previously.

In New York,gold for June delivery gained USD 13.60 to close at USD 1,486 an ounce on the Comex Division of NYMEX. Silver for May delivery added 91 cents to end at USD 42.57 an ounce.

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