New Delhi, April 9
Silver prices flared up to a new record in the sixth straight session by rising Rs 650 to Rs 59,250 per kg on frantic buying by stockists and speculators, triggered by a strong rally in overseas markets. Gold also rose by Rs 55 to Rs 21,320 per 10 grams on fresh local buying, driven by the ongoing 'Navratra' festival.

Trading sentiments remained bullish as precious metals climbed to a new record level in global markets as concerns over accelerating inflation, financial turmoil in Europe and fighting in Libya bolstered their demand as a safe haven.

Gold in global markets, which normally sets a price trend on the domestic front, strengthened by 0.6 per cent to $1,468.20 an ounce and silver by 1.3 per cent to $40.15 an ounce, the highest level since 1980. On the domestic front, silver spurted by Rs 650 to set a new record of Rs 59,250 per kg and weekly-based delivery by Rs 710 to Rs 58,560 per kg. Silver coins followed suit and surged Rs 1,000 to Rs 65,500 for buying and Rs 66,000 for selling of 100 pieces. — PTI