Silver prices hit a lifetime high of ₹1,04,100 per kilogram in the national capital on Thursday, and gold prices jumped ₹430 in line with strong global cues. On March 19, silver hit its previous all-time high of ₹1,03,500 per kg.
Silver prices on Thursday, crossed USD 35 mark per ounce and hit its highest level since March 2012, boosted by a combination of factors such as weaker US dollar, rising geopoltical tension and robust industrial demand.
Gold of 99.9 per cent purity appreciated ₹430 to ₹99,690 per 10 grams (inclusive of all taxes). The precious metal of 99.5 per cent purity increased ₹400 to ₹99,100 per 10 grams (inclusive of all taxes) on Thursday.
The most traded July contract for silver futures rallied by ₹3,833, or 3.78 per cent, to hit an all-time high of ₹1,05,213 per kg on the Multi Commodity Exchange.
Additionally, gold futures for August contracts climbed ₹635 to ₹99,214 per 10 grams. Meanwhile, spot gold in the international markets rose USD 21.58 per ounce, or 0.64 per cent, to USD 3,393.93 per ounce.
Also, spot silver went up nearly 4 per cent to trade at USD 35.80 per ounce in the overseas markets. Gold, a safe-haven asset during times of political and economic uncertainty, tends to thrive in a low-interest-rate environment.
Meanwhile, spot silver jumped 2.5% to $35.83 per ounce, its highest level since February 2012.
