Silver futures hit lifetime high

Silver prices jumped Rs 291 to hit a lifetime high of Rs 1,29,720 per kilogram in the domestic futures market, buoyed by expectations of a US Federal Reserve rate cut and growing belief that the easing cycle may continue into next year.

Silver futures for December delivery rallied Rs 291 or 0.22 per cent to touch a record high of Rs 1,29,720 per kg. The March next year delivery also advanced Rs 270 or 0.20 per cent to hit a fresh peak of Rs 1,31,135 per kg.

“Silver prices climbed to touch an all-time high in the domestic markets, supported by safe-haven demand, geopolitical concerns, and firm investment interest,” said Rahul Kalantri, Vice-President of Commodities at Mehta Equities Ltd.

In the international market, silver futures for December delivery were trading 0.32 per cent higher at $43.09 per ounce, marking a fresh 14-year high in global trade.