Silver Soars to Record High Amid Festive Surge

Silver prices reached a record high in the national capital, fueled by heavy demand from stockists during the festival season. Gold also saw significant gains, despite global market dips. Persistent domestic demand and festive buying have kept bullion prices soaring, contrary to international trends.

Silver prices have reached an unprecedented level, surging Rs 1,900 to hit Rs 1,41,900 per kilogram in the national capital, driven by heightened stockist demand during the festival season, according to the All India Sarafa Association.

Alongside silver, gold has also seen a price increase, with 99.9 percent purity escalating by Rs 330 to Rs 1,17,700 per 10 grams. Meanwhile, gold with 99.5 percent purity rose Rs 400 to reach Rs 1,17,100 per 10 grams.

Despite a stronger performance in the local market, global figures showed a downturn with spot gold and silver trading lower. Nevertheless, domestic demand and festive purchases continue to support the bullish trend in India.

(With inputs from agencies.)