Silver marches to hit new high, gold eases

Silver marches to hit new high, gold eases

Mumbai: Silver prices continued to race ahead to yet another new record peak at the bullion mark in Mumbai on Thursday on speculative driven demand influenced by highly inflated international market.

Meanwhile, gold eased due to lack of local buying interest at existing levels despite prices ruling at record levels in overseas.

Silver ready (.999 fineness) gained by Rs30 per kilo to close at Rs33,935 from its previous closing level of Rs33,905.

However, standard gold (99.5 purity) slipped by Rs15 per ten grams to finish at Rs19,150 from Wednesday’s closing level of Rs19,165.

Pure gold (99.9 purity) also moved down by a similar margin of Rs15 per 10 grams to end at Rs19,240, as against Rs19,255 previously.

In Europe, spot gold was bid at $1,314.50 an ounce in early trade as against $1,308.80 late on Wednesday.

Silver was bid at $21.98 an ounce as against $21.87.