Silver set yet another record today by surging Rs 1,800 to Rs 56,400 per kg on heavy buying by stockists and industrial units, sparked by a rising global trend. Gold also rose by Rs 45 to Rs 21,240 per 10 grams on scattered buying.
Trading sentiments turned bullish as gold fluctuated near records and silver climbed to a 31-year high in London as fighting in Libya and concern over Europe's debt crisis spurred demand for an alternative investment.
In global markets, gold rose by $1.35 to $1,438.75 an ounce and silver by 0.5 per cent to $37.55 an ounce, the highest level since February, 1980.
On the domestic front, silver ready remained on record making spree and surged by Rs 1,800 to hit an all-time high of Rs 56,400 per kg and weekly-based delivery by Rs 1,900 to Rs 56,100 per kg.
Silver coins also spurted by Rs 1,800 to Rs 60,800 for buying and Rs 61,300 for selling of 100 pieces. Similarly, gold of 99.9 and 99.5 per cent purity rose by Rs 45 each to Rs 21,240 and Rs 21,120 per 10 grams, respectively.
However, sovereigns held steady at Rs 17,500 per piece of eight grams.