Silver Soars to Record Highs: A New Era for the Precious Metal

Silver futures hit a record high of Rs 2,06,111 per kilogram amidst strong global cues and supply concerns. In contrast, gold futures declined. Investors anticipate insights from upcoming inflation data, impacting market strategies. Silver outpaced crude oil prices for the first time in four decades, signifying its growing strategic importance.

Silver futures surged to a record high of Rs 2,06,111 per kilogram on Wednesday, driven by strong global trends and persistent supply concerns. This growth, alongside expectations of Federal Reserve rate cuts next year, has fueled sustained investor interest in the metal.

On the Multi Commodity Exchange, silver for March delivery jumped by 4.2 percent, reflecting a sharp increase of Rs 8,356 from the previous day. Meanwhile, the precious metal's May 2026 contract also saw significant gains, peaking at Rs 2,08,914 per kilogram.

While silver saw impressive gains, gold futures trended downward. February delivery decreased slightly, highlighting the contrasting fortunes of these key commodities. As silver outshone gold, it also surpassed crude oil prices for the first time in 40 years, indicating its rising strategic significance in global markets.

(With inputs from agencies.)