Tej Kohli business blog is a place to find all the latest news related to the business world. In the precious metals today, Gold prices become steady while the silver prices are taking an upswing. Tej Kohli blog brings you the detailed report.

Silver and Gold both reach new highs early Monday, as Friday’s solid showing in New York trickled down to Asian business market.

Gold saw some profit taking after reaching a record $1490.10 per troy ounce, brushed aside concerns that it is overextended, staying positive above the $43 level for the whole session.

Inflation matters remain the present driving force, even though several brokers now believe that silver, particularly, is largely dependent on technical momentum instead of anything more substantial.

“Silver is the metal of the moment, with no clear way of identifying why it should outperform in a generally-high performing environment,” Mitsui Global Precious Metals said in a report.

At 0540 GMT, spot silver was at $43.20, up 15 cents since Friday’s New York close, after hitting a record 31-year high of $43.37 earlier.

Spot gold was at $1,486.20/oz, down 20 cents; on Tocom, the February 2012 gold contract was at Y3,972 a gram, up Y10.

Tej Kohli said inflation is the current catchphrase but gold is actually getting curcial support from low core inflation in the U.S., which is enabling a continuation of dovish monetary policy.

It noted Friday’s U.S. core consumer prices were up only 1.2% from a year ago.

Tej Kohli is an entrepreneur and philanthropist based in San Jose, Costa Rica. Tej Kohli business blog is a place where he share his thoughts about the commercial happenings around the world.