Silver,gold jump on festival season demand

The anticipated demand for the approaching festival and marriage season when white metal coins are used in gifts as well as in offering prayers,jacked up its demand among jewellery fabricators.

Gold,too,advanced in sync with the firming trend in metal markets at home and abroad. It rose to Rs 19,815 per ten grams,nearer to its record high level of Rs 19,900 set on October 7.

In the Asian bullion markets,both the precious metals climbed to record levels,as dollar last week depreciated to its lowest level since January this year,making investors switch on to safer alternatives.

In domestic markets,the silver ready spurted by Rs 300 to Rs 35,600 per kg and silver weekly-based delivery rose by Rs 135 to Rs 34,830 per kg on speculative support.

Silver coins remained unaltered at Rs 35,700 for buying and Rs 35,800 for selling of 100 pieces in limited deals.

The gold of 99.9 and 99.5 per cent purity rose by Rs 75 each at Rs 19,815 and Rs 19,715 per ten grams respectively.

The metal had touched a record level of Rs 19,900 on October 7.

Sovereign also rose by Rs 100 at Rs 15,600 per piece of eight gram.