Aysha Ehsan
KARACHI: Silver prices hit another all time high of Rs1120 per tola on hefty buying and unrest in the North African and Middle East, traders said on Monday.
Ten grams silver has become costlier by Rs25.72 and is available at Rs960, while its per tola prices have surged by Rs30 and is tagged at Rs1120.
“War in Libya has fanned woes about the crude oil supplies in the future,” said a senior trader. “And that is why investors are offloading currencies and considering metals again as ‘safe havens’.”
Gurus of precious metal trade have hinted silver will not stop breaching next barriers.
“I am seeing silver at Rs1500 per tola level by June end,” said a commodity analyst.
He further said that Libyan unrest does not seem to be resolved in near future and metals’ outlook is positive in short-term.
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