Silver Soars to New Heights Amid Robust Demand and Global Cues

Silver prices experienced a significant surge, increasing by Rs 11,500 and reaching Rs 1,92,000 per kilogram in the national capital due to strong domestic demand and global influences. Meanwhile, gold prices saw a modest rise, with the Federal Reserve's expected rate cut impacting market trends.

Silver prices experienced an unprecedented surge in the national capital, climbing Rs 11,500 to a record Rs 1,92,000 per kilogram. This marks the steepest single-day increase in nearly two months, driven by robust domestic demand and influenced by international market cues.

The All India Sarafa Association reported that silver closed at Rs 1,80,500 per kilogram just a day before the increase. Since the start of the year, silver has skyrocketed by Rs 1,02,300, marking a 114.04 per cent rise from December 31, 2024.

Gold also saw an upward trend, rising Rs 800 per 10 grams with support from a weaker US dollar and market expectations of a Federal Reserve rate cut. Meanwhile, in the international market, both gold and silver hit new heights, reflecting strong investor interest amid geopolitical uncertainties.

(With inputs from agencies.)