New Delhi, Jan 29: Silver prices surpassed the Rs 4 lakh per kilogram mark in the national capital on Thursday, while gold hit a new peak of Rs 1.83 lakh per 10 grams, tracking a sharp rally in global markets and strong investor demand for safe-haven assets.
According to the All India Sarafa Association, silver extended gains for the fourth consecutive session and surged Rs 19,500, or 5.06 per cent, to a record Rs 4,04,500 per kilogram (inclusive of all taxes).
The white metal had closed at Rs 3,85,000 per kilogram on Wednesday.
Gold also hits lifetime high
Gold of 99.9 per cent purity also soared by Rs 12,000, or 7.02 per cent, to scale a new lifetime high of Rs 1,83,000 per 10 grams (inclusive of all taxes), from the previous close of Rs 1,71,000 per 10 grams.
Global cues support rally
Traders said the sharp uptick in bullion prices was largely in line with the global trend, with gold and silver hitting fresh record highs as investors flocked to safe-haven assets amid rising geopolitical tensions and a weakening US dollar.
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In the international market, gold increased by USD 177.14, or 3.3 per cent, to touch a fresh peak of USD 5,595.02 per ounce.
Spot silver gained USD 3.59, or 3.07 per cent, to hit a lifetime high of USD 120.45 per ounce in overseas trade.
(Disclaimer: Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)
