New Delhi: Silver prices rallied on Friday to breach the record Rs 2 lakh per kg mark in futures trade for the first time, riding on strong investor demand and positive global trends.
Rising for the fourth consecutive day, the white metal futures for March delivery appreciated by Rs 1,420, or 0.71 per cent, to touch a lifetime high of Rs 2,00,362 per kg on the Multi-Commodity Exchange (MCX).
Over the past four sessions, the white metal has added Rs 18,620, or 10.24 per cent, to Rs 1,81,742 per kilogram on Monday.
Meanwhile, gold futures for February delivery also soared by Rs 2,497 to touch an all-time high of Rs 1,34,966 per 10 grams.
In the international markets, Comex gold futures advanced by USD 57.6, or 1.34 per cent, to USD 4,370.6 per ounce.
Gold prices commenced an upward trajectory following a period of consolidation over the past few days. This surge in the precious metal was primarily supported by a weakening rupee and sustained investment demand.
Comex silver futures rose to scale a fresh peak of USD 64.74 per ounce in the overseas trade.
Renisha Chainani, Head – Research at Augmont, said, “Gold and silver skyrocket even though the Fed has turned dovish and hinted at a lower rate reduction in 2026. Positive events related to the Ukraine peace deal may limit the bullion price’s upside”.
