Silver touches new high at 42,400/kg on global cues


Staff member
New Delhi November 23:

Silver prices rallied by Rs 400 to an all-time high of Rs 42,400 a kg in the national capital today, on frantic buying by stockists to encash on the ongoing marriage season amid a firm global trend.

Gold also moved up by Rs 70 to Rs 20,430 per 10 grams on rising jewellery demand, reaching nearer to its record level of Rs 20,600 per 10 grams set on November 11. The precious metals surged on rising demand as stockists and jewellery makers increased their holdings for the ongoing marriage season.

Trading sentiment further bolstered on a firm global trend, as the dollar fell against the euro on optimism that a deal to rescue Ireland's banks might curb deepening debt crisis. The gold in overseas markets, which sets the price trend on the domestic front, rose 0.7 per cent to USD 1,361.