Tuesday, March 8, 2011

Gold and Silver at Record High amidst Libya Crisis

Gold hits all time record high ; silver at 31-yr high

Trading sentiments for the yellow metal turned bullish on heavy buying support, following turmoil in Libya and surging crude oil prices. While gold surged Rs 200 to Rs 21,420 per 10 grams on rising seasonal demand, silver rose by Rs 1,250 to Rs 54,450 per kg on heavy buying by stockists and industrial units, amid firm global cues. However, such a rise has hardly made any difference in the enthusiasm of Indian buyers.

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