April 6, 2011 5:48 PM

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Silver surges to 58,400 rupees; Gold glitters at 21,300 rupees

Continuing its record-breaking streak for the third straight session, silver surged 900 rupees, to hit yet another all-time peak of 58,400 rupees per kilo at Delhi's bullion market, on Wednesday, on sustained heavy buying by stockists, driven by a firm global trend. Silver coins zoomed 1,500 rupees, to scale a new high of 64,500 rupees for buying, and 65,000 rupees for selling 100 pieces. Gold climbed a more modest 150 rupees, to 21,300 rupees per ten grams.In the global markets, gold rose to a new record over 1,460 dollars an ounce, while silver hit a fresh 31-year high. The precious metals climbed, as the sovereign-debt crisis in Europe deepened, after Moody's Investors Service cut Portugal's credit rating, and higher grain and oil prices worsened the inflation outlook.

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