Silver futures rise to fresh records

Silver prices surged by Rs 3,126 to hit a fresh record of Rs 1,84,727 per kilogram on Wednesday while gold futures advanced to Rs 1,30,766 per 10 grams, tracking firm global trends.

A steep fall in the rupee, which slipped to an all-time low against the US dollar, further pushed up bullion prices, analysts said. On the Multi Commodity Exchange (MCX), gold futures for the February 2026 contract jumped by Rs 1,007, or 0.78 per cent, to Rs 1,30,766 per 10 grams.

Silver futures also moved higher to hit an all-time high on the MCX. The white metal for March 2026 delivery zoomed by Rs 3,126, or 1.72 per cent, to Rs 1,84,727 per kilogram.

On Wednesday, the rupee breached the 90-mark for the first time, slipping 6 paise to 90.02 in the morning trade, as persistent dollar demand from banks and foreign fund outflows weighed on the sentiment. In the global market, gold and silver futures rose amid mounting expectations of an interest rate cut by the US Federal Reserve next week.

On the Comex, gold for December delivery rose by $29.3, or 0.7 per cent, to $4,215.9 per ounce, while the February 2026 contract went up by $39.3, or 0.93 per cent, to $4,260.1 an ounce. Comex silver for December delivery climbed 1.6 per cent to touch a lifetime high of $58.90 per ounce, while the March contract gained 1.62 per cent to record of $59.65 per ounce.