Silver at all-time high of Rs 64,450, gold at Rs 21,945

Silver and gold continued their upward rally on Tuesday for the third session on increased stockists buying on rising global trend. While silver rose by Rs 150 to set an all-time high level of Rs 64,450 per kg, gold added Rs 165 to a new record of Rs 21,945 per 10 grams.

Trading sentiments remained bullish as gold surged to a record level in global markets after Standard and Poor's revised its US outlook to negative, boosting the appeal of the precious metals as a safe haven.

In global markets, gold climbed to an all-time high of $1,498.80 an ounce and silver jumped to a 31-year high of $43.58 an ounce.

Besides, local buying by stockists and jewellers for the coming marriage season and volatile trade in equity markets further boosted the market sentiments.

On the domestic front, silver shot up by Rs 150 to record level of Rs 64,450 per kg and weekly-based delivery by Rs 315 to Rs 63,525 per kg. Silver coins also set records by adding Rs 500 to Rs 70,500 for buying and Rs 71,000 for selling of 100 pieces.

Similarly, gold of 99.9 and 99.5 per cent purity climbed by Rs 165 each to Rs 21,945 and Rs 21,825 per 10 grams, respectively, the levels never seen before. Sovereigns, too, shot up to records by gaining Rs 150 to Rs 17,900 per piece of eight grams.