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This is an archive article published on May 19, 2011

Silver surges,gold eases

Silver prices shot up further at the domestic bullion market due to aggressive buying from speculators driven by global bullishness.

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Silver prices shot up further at the domestic bullion market here today due to aggressive buying from speculators driven by global bullishness.

On the other hand,gold moved down on lack of local buying interest at exiting levels.

Silver ready (.999 fineness) jumped by a hefty Rs 870 per kg to end at Rs 54,555 from Wednesday’s closing level of Rs 53,685.

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However,standard gold (99.5 purity) edged down by Rs 10 per 10 grams to settle at Rs 21,900 from Rs 21,910 yesterday.

Pure gold (99.9 purity) also lost Rs 15 per 10 grams to finish at Rs 22,000 as compared to Rs 22,015 previously.

In Europe,spot gold was bid at USD 1,494.69 an ounce in early trade as against USD 1,496.30 late in New York yesterday.

Silver was bid at USD 35.60 an ounce as compared to USD 35.01 previously.

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