Silver at Rs 54,600,sets new record

Buying activity gathered momentum on renewed concern about the euro debt crisis and inflationary pressures that might curb global economic growth,raising demand for precious metals as a safe haven.

In global markets,silver rose by 0.22 per cent to USD 36.17 an ounce,its highest level since 1980 and gold surged 0.09 per cent to USD 1430.20 an ounce.

On the domestic front,silver ready surged Rs 300 to Rs 54,600 per kg and weekly-based delivery rose by Rs 310 to Rs 54,180 per kg.

Silver coins also spurted by Rs 800 to record high of Rs 59,100 for buying and 59,600 for selling of 100 pieces.

In line with a general firming trend,gold of 99.9 and 99.5 per cent purity rose by Rs 60 each to Rs 21,320 and Rs 21,200 per 10 grams,respectively. Sovereign ended flat at Rs 17,500 per piece of eight grams in restricted deals.