Silver surges by Rs 7,000; gold adds Rs 1,500

New Delhi: Silver prices soared by Rs 7,000 to hit an all-time high of Rs 1.5 lakh per kilogram in the national capital, while gold also scaled a new peak of Rs 1,19,500 per 10 grams amid strong global trends, according to the All India Sarafa Association.

The precious metal of 99.9 per cent purity jumped Rs 1,500 to reach a lifetime high of Rs 1,19,500 per 10 grams, up from Rs 1,18,000 per 10 grams in the previous session.

In the local bullion market, gold of 99.5 per cent purity also rallied by Rs 1,500 to hit a record high of Rs 1,18,900 per 10 grams from Rs 1,17,400 per 10 grams on Saturday.

Silver prices, too, witnessed a sharp rally, climbing Rs 7,000 to touch a record Rs 1,50,000 per kilogram, extending gains for the fourth straight session.

The white metal had ended at Rs 1,43,000 per kg in the previous trade. In the overseas market, both gold and silver posted robust gains.

Spot gold surged nearly 2 per cent to hit an all-time high of $3,824.61 per ounce, while silver advanced more than 2 per cent to $47.18 per ounce.