Silver Prices Surge to Record Highs Amid Strong Demand

Silver prices soared to a record Rs 93,135 per kilogram on Friday, as traders responded to high demand by broadening their investments. On the Multi Commodity Exchange, December silver contracts surged by Rs 956 in a session engaging 33,690 lots, while global rates increased 0.90% to USD 31.98 per ounce.

Silver prices reached unprecedented highs on Friday, driven by a robust demand that saw traders expanding their bets. The precious metal surged by Rs 956 to Rs 92,700 per kilogram, marking a significant move in the market.

In a notable development, silver futures peaked at Rs 93,135 per kg, underscoring the intense interest in the commodity. The Multi Commodity Exchange witnessed December delivery contracts escalating by 1.04% in a business turnover of 33,690 lots.

Globally, silver demonstrated a resilient performance, trading 0.90% higher at USD 31.98 per ounce in New York, reflecting a strong appetite for the metal in international markets.

(With inputs from agencies.)