Silver prices spurted by Rs 215 per kilo to a near four-month high at Rs 20,300 on the bullion here today on sustained industrial demand on the back of higher global cues. Gold also continued to rule firm for the second straight day on persistent local demand triggered by rise in international markets. Gold futures rose for a second session yesterday in New York as the metal&aposs appeal as an inflation hedge increased after the Bank of England cut its key interest rate to the lowest level of one per cent. Gold for February delivery rose by USD 12 to end at USD 913.60 an ounce on the New York Mercantile Exchange&aposs Comex division. March silver also added to USD 12.75 an ounce Gold&aposs attractiveness as a safe haven and an inflation hedge has pushed up its prices by over 3 per cent this year. Turning to the domestic market, silver ready (.999 fineness) shot up by Rs 215 per kilo to a near four-month high at Rs 20,300 from the yesterday&aposs closing level of Rs 20,085. The metal had ended at Rs 20,530 a kg on October 10, 2008. Standard gold (99.5 purity) advanced by Rs 55 per ten grams to Rs 14,200 from previous closing level of Rs 14,145.

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