Silver Soars to Record Highs in National Capital

Silver prices have reached a new high in the national capital, breaching Rs 2 lakh per kilogram for the first time. The surge was driven by robust demand in both domestic and global markets. Meanwhile, gold prices also saw an increase, reflecting trends in international markets.

In an unprecedented rise, silver prices surged by Rs 7,300 on Wednesday, reaching a historic Rs 2 lakh-per-kilogram mark in the national capital. The All India Sarafa Association attributes this spike to strong demand in both domestic and international markets.

By the end of trading, the white metal was valued at Rs 2,05,800 per kilogram, significantly higher than its previous close of Rs 1,98,500. Concurrently, the local bullion market reported an increase in gold prices by Rs 600, bringing the cost to Rs 1,36,500 per 10 grams, inclusive of all taxes.

International market trends echoed these local shifts. Spot gold prices increased by USD 18.59 to USD 4,321.06 per ounce. Additionally, spot silver made history overseas by crossing the USD 66-per-ounce threshold for the first time, climbing by 4.35% to reach USD 66.52 per ounce.

(With inputs from agencies.)