Gold, silver prices surge to fresh records

New Delhi: Silver prices rallied sharply by Rs 15,000 to hit a lifetime high of Rs 2,65,000 per kg in the national capital, and gold advanced to a fresh record of Rs 1,44,600 per 10 grams, mirroring strong gains in the global markets. According to the All India Sarafa Association, silver soared by Rs 15,000, or 6 per cent, to touch a new peak of Rs 2,65,000 per kilogram from the previous close of Rs 2,50,000 per kg. In addition, gold of 99.9 per cent purity appreciated by Rs 2,900, or 2.05 per cent, to hit a lifetime high of Rs 1,44,600 per 10 grams. It had ended at Rs 1,41,700 per 10 grams on Friday. In the international market, spot gold surged past the USD 4,600 per ounce level for the first time. The yellow metal gained USD 90.72, or 2 per cent, to touch a record USD 4,601.69 per ounce. Spot silver in the international trade rose by USD 4.3, or nearly 6 per cent, to touch a record of USD 84.61 per ounce.”Gold has responded positively, and jumped to the USD 4,600 per ounce level, while silver has seen an even sharper surge to USD 84 per ounce, highlighting its higher beta in risk-sensitive environments,” Gaurav Garg, Research Analyst at Lemonn Markets Desk, said.