Silver coins sky rocketed by Rs 3,600 to hit an all time high level of Rs 54,000 for 100 pieces on the bullion market on Tuesday on heavy demand, driven by ongoing marriage season. Gold also rose by Rs 80 to Rs 20,570 per 10 grams in tandem with a firming trend in Asian trade.
Silver coins shot up by a whopping Rs 3,600 to Rs 54,000 for buying and Rs 54,100 for selling of 100 pieces.
In the national capital, gold of 99.9 and 99.5 per cent purity rose by Rs 80 each to Rs 20,570 and Rs 20,450 per 10 grams, respectively, while sovereign continued to be asked around previous level of Rs 16,900 per piece of eight grams in restricted activity.
Sentiments also buoyed after gold advanced in Asia on speculation that rising inflation across the globe would boost demand for the metal as an alternative investment.
Gold in global markets rose by 0.3 per cent to $1,365.43 an ounce.
Silver ready climbed Rs 750 to Rs 46,500 per kg and weekly-based delivery went up by Rs 785 to Rs 46,200 per kg.