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Silver futures prices rose to record high levels by surging Rs 705 to Rs 47,016 per kg amidst global cues.

 
 
Gold prices recovered at the bullion market in Mumbai on Saturday while silver hit an all-time high on the back of speculative buying and demand from industrial users.
Trading sentiments for gold turned bullish, as it rose the most in a month in global markets, after the dollar's retreat boosted demand for the precious metal.
At the MCX counter, sugar for delivery in January-month contract shot up by Rs 184, or 5.44 per cent, to Rs 3,234 per quintal, with a business turnover of 297 lots.
Gold broke its five-days losing streak on Saturday in the national capital and rose by Rs 10 to Rs 20,700 per 10 grams on mild-buying by retailers.
Sustained growth in emerging markets of Asia and Latin America will keep the demand for raw materials buoyant in 2011, even as supply remains short.
 
 
At the Multi Commodity Exchange counter, silver for delivery in July contract gathered Rs 169, or 0.30 per cent to Rs 46,450 per kg, a level never seen before.
Trading sentiment turned bullish after gold advanced for the third day in Asia on speculation the dollar's retreat may boost demand for the precious metal.
Analysts said a firming trend in Asian regions, which normally sets prices on the domestic front, further influenced the trading sentiment.
Buoyed by firm trends in Asian regions, gold futures prices rose by Rs 31 to Rs 20,952 per 10 grams on Friday on fresh buying support by traders.
Gold prices fell Rs 30 to Rs 20,760 per 10 grams in continuation to a loss of Rs 30 in the previous session. Silver fell Rs 50 further to Rs 44,950 per kg.
Gold prices recovered by Rs 40 to Rs 20,730 per 10 grams due to fresh buying by retailers at existing lower levels, supported by a firm global trend.
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