MUMBAI: Silver prices jumped further to set a new milestone of Rs 56,000 per kg at the bullion market here today due to aggressive speculative and stockists driven buying spree buoyed by surging global trend. Gold too rose on the back of good retail as well as jewellery offtake coupled with sustained investment buying. In global trade, the ongoing violent stand-off in Libya and renewed concerns over the euro zone debt crisis triggered fresh bouts of speculative buying, pushed the gold to hit record high, while silver recorded fresh 31 year peak. In the domestic market, Silver ready (.999 fineness) zoomed by a hefty Rs 1,620 per kg to close at Rs 56,865 from Wednesday's closing level of Rs 55,245. Standard gold (99.5 purity) spurted by Rs 70 per 10 grams to end at Rs 20,995 from Rs 20,925 previously. Pure gold (99.9 purity) also went up by Rs 65 per 10 grams to conclude at Rs 21,100 per 10 grams against overnight closing level of Rs 21,035. In New York, gold for April delivery surged by $ 10.40 to $ 1,438 an ounce on the Comex division of the NYMEX. Silver for May delivery gained by 9 cents to 37.20 an ounce.

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