Silver surges to regain 46-k level, gold edges higher

Mumbai, Jan 12 (PTI) Silver prices surged further at thebullion market here today to regain Rs 46,000 per kilo onhighly speculative buying and industrial demand amidst bullishglobal trend.

Gold edged higher owing to mild retail buying on the backof festive outlook.

"Investors are charmed more by silver better than theyellow metal due to swift price movements," traders said.

Silver ready (.999 fineness) rallied by Rs 425 per kg toclose at Rs 46,015 from Tuesday''s closing level of Rs 45,590.

Standard gold (99.5 per cent purity) moved up by Rs 5 per10 grams to settle at Rs 20,345 from yesterday''s closing levelof Rs 20,340.

Pure gold (99.9 per cent purity) also gained by Rs 10 per10 grams to finish at Rs 20,445 as against Rs 20,435previously.

In Europe, Gold prices rose on weakening dollar andcaution ahead of sale of Portuguese bond auction renewedinterest in precious metals.

Spot gold was bid at USD 1,383.10 an ounce in early tradeas against USD 1,380.45 late in New York on Tuesday. Spotsilver was bid at USD 29.67 an ounce as compared to USD 29.50.