Silver futures hit another record
Silver futures hit another record
Silver futures soared to yet another record of Rs 2,72,202 per kg, tracking firm global trends, as uncertainties surrounding the US Federal Reserve’s policy stance and escalating tensions in Iran spurred safe-haven demand.
On the Multi Commodity Exchange (MCX), silver futures for March delivery jumped by Rs 3,232, or 1.2 per cent, to hit a new record of Rs 2,72,202 per kilogram. In the last two trading sessions, the white metal prices have skyrocketed by Rs 19,477, or 7.7 per cent, from Rs 2,52,725 per kg on Friday.
Silver prices surged sharply on Tuesday as geopolitical tensions in Iran deepened and traders grew wary over the Federal Reserve’s policy uncertainty outlook, Rahul Kalantri, VP Commodities, Mehta Equities Ltd, said. Meanwhile, gold futures saw mild profit-booking after their record highs.
