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Over The Roof : Silver Price Record Rs 3 lakh-per-kilogram Mark ; Gold Also Follows With High Surge
The white metal traded at Rs 3,02,600 per kilogram against the previous closing level of Rs 2,92,600 per kg. Gold prices also witnessed robust gains in the local bullion market and scaled a fresh record.
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Silver prices surged Rs 10,000 to breach the record Rs 3 lakh-per-kilogram mark in the national capital, driven by strong demand in domestic and global markets, according to marketmen.
The white metal traded at Rs 3,02,600 per kilogram on Monday against the previous closing level of Rs 2,92,600 per kg. Gold prices also witnessed robust gains in the local bullion market and scaled a fresh record.
The yellow metal climbed Rs 1,900 to Rs 1,48,100 per 10 grams (inclusive of all taxes). It had finished at Rs 1,46,200 per 10 grams on Friday.
“Gold and silver surged to fresh record highs on Monday, driven by geopolitical tensions, and escalating tariff-related uncertainty after US President Donald Trump threatened to impose additional tariffs on several European countries over the weekend,” Saumil Gandhi, senior analyst – commodities at HDFC Securities, said.
According to forex.com, spot silver increased to touch a fresh record of $94.13 per ounce, while gold rose to hit an all-time high of $4,690.80 per ounce in the international market.
“Spot gold hit a fresh record high of $4,690 per ounce in the global markets on safe haven demand as Trump announced a 10 percent tariff on eight EU nations in retaliation for their opposition to his Greenland initiative,” Praveen Singh, head of commodities, Mirae Asset ShareKhan, said.