Gold and silver prices reached new historic highs in the bullion market. Standard gold rose by Rs 215 to close at Rs 19,665 per 10 grams, while pure gold rose similarly to Rs 19,760. Silver ready jumped by Rs 1,090 per kg to Rs 37,910. The Reserve Bank of India is likely to raise interest rates for the sixth time this year, with the repo rate seen reaching 6.5% and reverse repo at 5.5% by the end of March 2011 due to high inflation. State Bank of India expects government approval for its Rs 20,000 crore rights issue proposal within the next two months, allowing it to fund business plans without diluting government equity.