Riding high on strong global cues and continued buying by industrial units and coin makers, silver prices cracked the Rs45,000-mark on Saturday by surging Rs960 per kg to trade at a two-year high of Rs45,560. This was the fifth straight day of rise for the commodity.
On the other hand, gold held steady in absence of any worthwhile buying by jewellers at prevailing levels, even as the precious metal strengthened overseas. Bullion traders attributed the rise in silver prices to a firming trend overseas, where it surged to its highest level since August 2014, as Britain’s vote to leave the EU fuelled speculations that central banks around the world will boost economic stimulus. Moreover, increased offtake by domestic industrial units and coin makers too buoyed sentiment, they added.