New Delhi, Apr 23 (PTI) Continuing their record setting spree for the seventh straight day, silver surged by Rs 2,000 to Rs 72,000 per kg, while gold jumped by Rs 230 to Rs 22,320 per 10 grams on speculative trade driven by an overseas rally.
Trading sentiment in the domestic market was bullish after gold advanced to USD 1,512.47 in global markets as a weaker dollar and European debt concerns boosted the metals appeal as an alternative investment. Silver moved up by 2.1 per cent to USD 47.25 an ounce, its highest since 1980.
The dollar slid to its lowest level since August 2008 against a basket of six major currencies this week on speculation that the US Federal Reserve will be slow to raise borrowing costs.
Standard and Poor's this week cut its debt outlook for US to negative from stable.
On the domestic front, gold of 99.