Silver Surges Rs 1,800 To Hit Fresh Record Of Rs 2.07 Lakh/Kg In Delhi Markets
With the latest gain, silver prices have skyrocketed by Rs 1,17,100, or 129.4%, this year, from Rs 90,500 per kilogram, recorded on Jan. 1, 2025.
Extending the record run for the second straight day, silver surged Rs 1,800 to a fresh lifetime high of Rs 2,07,600 per kilogram in the national capital on Thursday amid sustained buying by traders, according to All India Sarafa Association.
The white metal jumped Rs 7,300 on Wednesday to breach the Rs 2 lakh per kilogram-mark for the first time, settling at Rs 2,05,800 per kg.
With the latest gain, silver prices have skyrocketed by Rs 1,17,100, or 129.4%, this year, from Rs 90,500 per kilogram, recorded on Jan. 1, 2025.
In the local bullion market, gold of 99.9% purity remained flat at Rs 1,36,500 per 10 grams (inclusive of all taxes), as per the association.
In the international markets, spot gold fell $13.16, or 0.31%, to $4,325.02 per ounce.
"Gold dipped to around $4,330 per ounce on Thursday but stayed near the record highs reached in October, as expectations of further US rate cuts and ongoing geopolitical risks supported the metal's appeal," Jigar Trivedi, Senior Research Analyst at Reliance Securities, said.
Meanwhile, market sentiment was influenced by comments from Federal Reserve Governor Christopher Waller, who on Wednesday supported additional interest rate cuts while noting that policymakers could proceed cautiously.
His remarks followed US labour data indicating further cooling, with the unemployment rate rising to a four-year high and November job additions failing to offset the slowdown seen in October.
Spot silver slipped 0.25% to $66.04 per ounce in the overseas markets. In the previous session, the white metal had increased by $3.13, or 4.91%, to hit a record of $66.88 per ounce.
In the current calendar year, from its record highs, silver prices have risen by $37.32, or 126.3%, from $29.56 per ounce, recorded on Jan. 2, 2025.
"Silver's rally this year, up nearly 130% year to date, has also been underpinned by tightening inventories and strong retail and industrial demand, particularly from the rapidly expanding solar, electric vehicle, and data centre sector," Jigar Trivedi of Reliance Securities, said.
Analysts said the white metal is witnessing its fifth straight year of supply deficit, a trend expected to persist and keep prices elevated in 2026.
