Record Silver Surge: Precious Metal Hits Historic Price

In an unprecedented rise, silver prices in the national capital surged by Rs 6,000, reaching a record-breaking Rs 1,63,000 per kilogram. This marks the second significant jump within a week, with the metal climbing Rs 7,400 just days earlier.

The All India Sarafa Association reported that this drastic rise is driven by safe-haven buying amidst geopolitical and economic uncertainties. Expectations of interest rate cuts by the US Federal Reserve have also contributed to the surge.

While silver prices soared, the bullion market saw gold holding steady at all-time highs, with 99.9% and 99.5% purity gold maintaining levels of Rs 1,26,600 and Rs 1,26,000 per 10 grams, respectively.

(With inputs from agencies.)