Silver prices soared by Rs 9,350 to hit a fresh lifetime high of Rs 2,36,350 per 10 grams in the national capital on Friday, tracking strong global cues. The white metal had closed at Rs 2,27,000 per kilogram on Wednesday.
Over the past four sessions, silver prices have added Rs 32,250, or 15.8 per cent, from Rs 2,04,100 per kilogram since December 19. During the calendar year, the white metal had risen Rs 1,46,650, or 163.5 per cent, from Rs 89,700 per kg recorded on December 31, 2024.
Meanwhile, gold prices maintained their upward momentum in the local bullion market. The precious metal of 99.9 per cent purity jumped Rs 1,500 to touch a new record of Rs 1,42,300 per 10 grams (inclusive of all taxes). It had finished at Rs 1,40,800 per 10 grams in the previous market session. So far this year, gold prices have added Rs 63,350, or 80.24 per cent, from Rs 78,950 per 10 grams recorded on December 31, 2024.
In the international markets, spot gold rose US $50.87, or 1.13 per cent, to hit a new lifetime high of US $4,530.42 per ounce.
Gold continues to trade at a record high of US $4,530 per ounce, buoyed by the Fed rate cut expectations and positive undertone in the commodities market. Spot silver rose to hit US $75 per ounce-mark for the first time in the overseas trade. The white metal climbed US $3.72, or 5.18 per cent, to touch a new record of US $75.63 per ounce in overseas trade.
The strong bullish momentum has attracted more momentum-driven traders, who have been active in the precious metals market since early December. This trend has been intensified by the low liquidity that is near the year-end and Christmas holiday season.
Silver has been in a multi-year supply deficit, global mine output has lagged demand, and above-ground inventories are declining. Structural tightness on the physical market could support much higher prices if deficits deepen. Silver is crucial in solar panels, EVs, 5G/AI electronics, and other clean-tech infrastructure. As these sectors grow, industrial demand may outpace supply further, tightening markets.
Also read: Silver surges to new high of ₹2.27 lakh
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