Record Surge: Silver and Gold Prices Skyrocket Amidst Global Uncertainty

In a dramatic move, silver prices in the national capital surged by Rs 4,000, hitting a new record of Rs 1,18,000 per kilogram. According to the All India Sarafa Association, this spike comes on the back of intense buying by stockists.

Gold also saw notable gains, with 99.9 per cent purity advancing by Rs 1,000 to reach Rs 1,01,020 per 10 grams. The demand for gold is being fueled by rising global uncertainty and a diminishing forecast for a US-EU trade agreement.

The bullish sentiment in silver is further driven by robust industrial demand, while the weaker US Dollar enhances gold's appeal. Analysts indicate that upcoming manufacturing and services PMI data will be crucial in determining future price trajectories.

(With inputs from agencies.)