Business
Huge Surge : Silver Rs 3.59 lakh per kg in the futures trade , While Gold touched a lifetime high of Rs 1.59 lakh per 10 grams Respectively
The yellow metal had jumped Rs 13,520 or 9.5 per cent, over the past week. Analysts attributed the surge in bullion prices to rising safe-haven demand as traders sought shelter amid global market turbulence triggered by geopolitical strains and policy jitters.
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Silver prices surged to hit a record of Rs 3.59 lakh per kg in the futures trade , while gold touched a lifetime high of Rs 1.59 lakh per 10 grams, driven by robust investor demand amid persistent geopolitical and economic uncertainties.
On the Multi Commodity Exchange (MCX), silver for March delivery zoomed Rs 25,101, or 7.5 per cent, to touch a record of Rs 3,59,800 per kilogram. Last week, the white metal had registered a steeper rally, soaring by Rs 46,937, or 16.3 per cent, to breach the Rs 3 lakh per kilogram mark for the first time. Gold futures also extended their record-breaking run, with the February contract climbing by Rs 3,783, or 2.42 per cent, to Rs 1,59,820 per 10 grams.
The yellow metal had jumped Rs 13,520 or 9.5 per cent, over the past week. Analysts attributed the surge in bullion prices to rising safe-haven demand as traders sought shelter amid global market turbulence triggered by geopolitical strains and policy jitters.
Silver and gold prices surged sharply to hit record highs on Tuesday, as investors accelerated their shift toward safe-haven assets. Heightened geopolitical risks and renewed trade tensions, particularly from President Donald Trump’s threat to raise tariffs on South Korean imports, weighed on global market sentiment, Rahul Kalantri, VP Commodities, Mehta Equities Ltd, said. —