Silver Soars: A Record-Breaking Rally

Silver prices hit a lifetime high, extending their rally for the sixth consecutive session, as investor demand surged alongside positive global trends. Meanwhile, gold futures held near record levels. The white metal's price spike is attributed to strong buying interest, aligning with firm international market trends.

Silver prices have continued their record-breaking ascent, marking a sixth consecutive session of gains as demand shows no sign of abating. On Monday, silver futures surged by 6 percent, reaching a lifetime high of Rs 2,54,174 per kilogram amid robust investor interest and bullish global sentiments.

Trading on the Multi Commodity Exchange saw March silver futures leap by Rs 14,387, achieving new heights, as the metal drew significant buying interest from traders aligned with strong international market trends.

Gold futures, while hovering near their all-time highs in the domestic market, saw less dramatic gains. On the MCX, February gold futures increased modestly by Rs 357 to Rs 1,40,230 per 10 grams. Internationally, gold prices opened positively but pared early gains. However, silver futures on Comex exceeded USD 80 per ounce for the first time, driven by anticipated Federal Reserve rate cuts and strong industrial demand.