New Delhi: Silver prices hit a new record high of Rs 2.41 lakh per kg in the national capital on Tuesday, rising by Rs 1,000 in line with firm global cues, according to the All India Sarafa Association.
However, gold of 99.9 per cent purity extended its losses for the second straight day, declining Rs 2,800 to Rs 1,39,000 per 10 grams (inclusive of all taxes) from the previous close of Rs 1,41,800 per 10 grams on Monday.
In the international markets, spot silver was trading higher by USD 3.72, or 5.15 per cent, to USD 75.85 per ounce, while gold rose USD 69.61, or 1.61 per cent, to USD 4,401.59 per ounce.
Strong industrial demand and firm global prices boosted the white metal in local markets, marketmen said.
“Despite near-term volatility, silver continues to find support from structural supply constraints and strong industrial demand, particularly from solar, electronics, and data center infrastructure. However, stricter margin rules may keep price gains measured in the short term. MCX Silver March may appreciate to Rs. 226,000/kg as the undertone is bullish in the international markets,” Jigar Trivedi, Senior Research Analyst at Reliance Securities, said.
On the Multi Commodity Exchange (MCX), silver futures for March 2026 delivery soared by Rs 9,590, or 4.27 per cent, to Rs 2,34,019 per kilogram in a business turnover of 11,915 lots.
The white metal had skyrocketed by Rs 14,387, or 6 per cent, to touch a record high of Rs 2,54,174 per kilogram on Monday.>
