Record-Breaking Silver Prices

Silver futures reached a historic peak of Rs 1,14,875 per kg on the Multi Commodity Exchange (MCX), marking a significant milestone in the commodities market. This surge was attributed to strong global cues and a bullish market sentiment.

Gold Prices on the Rise

Gold futures also saw an upward trend, climbing by Rs 320 to Rs 98,138 per 10 grams. The increase was driven by robust demand in the spot market, with traders actively establishing new positions.

Global Market Trends

Internationally, silver traded at $39.05 per ounce in New York, up by 1.68%, while gold futures in the same market rose by 0.09% to USD 3,358.72 per ounce. Analysts point to geopolitical uncertainties and a weakening US dollar as key factors fueling this demand.

Expert Insights

"The dual appeal of silver as both a safe-haven and industrial commodity, combined with current market dynamics, is driving its unprecedented growth," explained Riya Singh, Research Analyst at Emkay Global Financial Services.