Silver futures jump 6% to fresh record

Silver prices extended their record-breaking rally for a sixth straight session on Monday, surging 6 per cent to touch a lifetime high of Rs 2,54,174 per kilogram in futures trade amid strong in-vestor demand and bullish global trends. Silver futures for March delivery surged Rs 14,387, or 6 per cent, to hit a new record of Rs 2,54,174 per kilogram.

The white metal has been witness-ing robust buying interest from traders, tracking firm trends in the international markets. Mean-while, gold futures hovered near all-time highs in the domestic futures market. On the MCX, the yellow metal for February delivery gained by Rs 357, or 0.26 per cent, to Rs 1,40,230 per 10 grams. It had scaled a fresh peak of Rs 1,40,465 per 10 grams on Friday.

“Silver surged to a new all-time high as bullish sentiment remained intact across global markets. The dollar index fell for the fifth consecutive week on hopes of further US monetary policy easing, and renewed US-Venezuela tensions have also boosted safe-haven buying,” Rahul Kalantri, Vice-President of Commodities, Mehta Equities Ltd, said.