Silver jumps to all-time high at Rs 56,900

In Europe,precious metals rose on dollar weakness,concerns over eurozone debt as well as Middle-East crises supported the buying.

In the domestic market,silver ready .999 fineness shot up by Rs 490 per kg to close at Rs 56,900 from Wednesday8217;s closing level of Rs 56,410.

Standard gold 99.5 purity gained by Rs 80 per 10 grams to end at Rs 20,775 from overnight closing level of Rs 20,695.

Pure gold 99.9 purity also added by a similar margin conclude at Rs 20,875 per 10 grams as compared to Rs 20,795 yesterday.

In Europe,spot gold was bid at USD 1,428.90 an ounce in early trade as against to USD 1,423.38 late in New York on Wednesday.

Silver was bid at USD 37.76 an ounce as against USD 37.44.

Silver surges to record Rs 56,600/kg

Earlier in the day,surpassing all previous records,silver soared to an all-time high of Rs 56,600 per kg in the national capital on Thursday on heavy buying by stockists and industrial units,sparked by a rising global trend.

While silver spurted by Rs 600 to all-time high of Rs 56,600 per kg,its more expensive counterpart,gold,climbed by Rs 70 to Rs 21,090 per 10 grams on scattered buying.

The trading sentiment at home turned bullish as precious metals gained ground in global markets amid fighting in Libya and concerns about European debt spurring demand for a safe investment haven.

In global markets,gold rose by USD 4.73 to USD 1,427.75 an ounce and silver by 0.7 per cent to USD 37.72 an ounce.

On the domestic front,silver ready surged by Rs 600 to Rs 56,600 per kg and weekly-based delivery by Rs 535 to Rs 56,100 per kg. Silver coins held steady at Rs 61,500 for buying and Rs 62,000 for selling of 100 pieces.

Similarly,gold of 99.9 and 99.5 per cent purity rose by Rs 70 each to Rs 21,090 and Rs 20,970 per ten grams,respectively. However,sovereigns held steady at Rs 17,500 per piece of eight grams.