Silver is high, gold does not shine

In a constant upsurge in the bullion market, silver and its coins today spurted to new heights by recording handsome gains on brisk buying by industrial units and jewellery makers, amid a firm global trend.

While silver spurted by Rs 500 to set an all-time peak of Rs 45,200 per kg, its coins zoomed by Rs 2,200 to Rs 49,000 per 100 pieces on fresh purchases by jewellers and industrial units for the ongoing marriage season.

On the other hand, gold held steady in restricted trading activity at existing higher levels. However, Gold prices rose by Rs 63 to a record high of Rs 21,140 per ten grams in futures trade on Monday on fresh buying by speculators, taking cues from firming Asian markets.

Trading sentiments turned extremely bullish in silver, as the prices in overseas markets climbed to 30-year high. The ripples were further felt in silver coins.

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