Silver sparkles at Rs 60,000,gold gains

Silver continued its relentless record-breaking journey to reach yet another milestone.

Silver prices continued their relentless record-breaking journey and today reached another milestone by breaching the magical Rs 60,000 per kg mark at the domestic bullion bourse on the strength of hectic speculative trading and encouraging global cues.

Gold prices,too,rallied after a brief overnight pause on the back of sustained investment as well as buying from stockists.

Silver ready (.999 fineness) zoomed by a massive Rs 1,045 per kg to close at Rs 60,125 from Thursday’s closing level of Rs 59,080.

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Standard gold (99.5 purity) spurted by Rs 110 per 10 grams to end at Rs 21,090 from Rs 20,980 previously.

Pure gold (99.9 purity) rose by a similar margin to finish at Rs 21,190 per 10 grams as compared to Rs 21,080 yesterday.

In the overseas markets,the precious metals are scaling new peaks every day mainly on weakening dollar valuation amidst concerns over ongoing financial turmoil in euro zone countries and unending violence in West Asia.

In Europe,spot gold was bid at USD 1,468.70 an ouncein early trade as against USD 1,457.45 late in New York yesterday.

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Silver was bid at USD 40.18 an ounce as compared to USD 39.51.