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Silver prices in India up at Rs 57,300, gold price at new high

Market analysts said the trading sentiments remained bullish as gold in international markets climbed 0.66 per cent to a record $1,593 an ounce.

twitter-logo PTI   New Delhi     Last Updated: July 14, 2011  | 18:07 IST

The gold prices surpassed all previous records as they spurted Rs 170 to Rs 23,220 on Thursday, on brisk buying by stockists, driven by a firm trend in the international markets due to the deepening Euro debt crisis. Similarly, silver prices spurted Rs 2,300 to Rs 57,300 per kg, in line with the general firming trend, on heavy buying by stockists and speculators.

The yellow metal crossed its last record level of Rs 23,175 set on April 30 this year.

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Market analysts said the trading sentiments remained bullish as gold in international markets climbed 0.66 per cent to a record $1,593 an ounce, as concern about Europe's debt crisis spurred demand for the metal as a protection of wealth.

The precious metal touched record levels in domestic as well as futures trade worldwide, which further buoyed the sentiment, they added.

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At the Multi Commodity Exchange, the yellow metal touched the peak of Rs 23,465 by adding Rs 269, indicating further upsurge in the coming days.

On the domestic front, gold of 99.9 and 99.5 per cent purity gained Rs 170 each to Rs 23,220 and Rs 23,100 per 10 grams, respectively.

Sovereigns also gained Rs 50 to Rs 18,850 per piece of eight grams.

Likewise, silver ready moved up Rs 2,300 to Rs 57,300 per kg and weekly-based delivery climbed Rs 3,060 to Rs 57,960 per kg, on brisk buying by industrial units.

Silver coins followed suit and jumped up Rs 1,000 to Rs 63,000 for buying and Rs 64,000 for selling of 100 pieces.

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