Silver hits record high in futures trade

Silver futures surged by Rs 3,668 to a fresh record high of Rs 1,78,649 per kilogram while gold prices climbed to Rs 1,30,550 per 10 grams in the domestic markets on Monday, driven by a weak US dollar and growing expectations of an interest rate cut by the US Federal Reserve.

On the Multi Commodity Exchange (MCX), the yellow metal futures for February 2026 contract jumped by Rs 1,046, or 0.81 per cent, to Rs 1,30,550 per 10 grams in 12,199 lots.

Silver futures for March 2026 delivery extended the gains for the seventh straight session, by soaring Rs 3,668, or 2.09 per cent to hit a lifetime high of Rs 1,78,649 per kilogram in a business turnover of 15,750 lots.

The white metal has skyrocketed by Rs 21,245, or 13.5 per cent, over the past seven sessions, from Rs 1,57,404 per kilogram on November 20.