Silver surges Rs 15,667, gold adds over Rs 2,000 in last week
The white metal reached a fresh peak of Rs1.64L/kg, meanwhile the yellow metal closed at Rs1,21,525/10gms
Silver surges Rs 15,667, gold adds over Rs 2,000 in last week
The Indian bullion market remained bullish last week, continuing the past week’s momentum. The silver price witnessed a strong rally, soaring over Rs 15,000 per kilogram to end at an all-time high of Rs 1.64 lakh per kg. Gold also saw a moderate uptick, rising more than Rs 2,000 per 10 grams during the period.
According to the Indian Bullion And Jewellers Association (IBJA), silver price surged by Rs 4,950 on Friday to end at Rs 1,64,500 per kg, from the previous day’s price of Rs 1,59,550 per kg. In contrast, the 24-carat gold rate fell Rs 1,104 to Rs 1,21,525 per 10 grams from its all-time high of Rs 1,22,629 on Thursday.
Meanwhile, both the precious metals have witnessed a decent momentum last week, with the silver price surging by Rs 15,667 from Rs 1,48,833 per kg on Monday, while the 24-carat gold price increased by Rs 2,276 from Rs 1,19,249 per 10 grams on the opening day of the week.
The metal prices remained firm in the domestic futures market as well. The MCX Gold, December 5 expiry, closed at 1,21,492 per 10 grams on Friday, up Rs 999 or 0.83 per cent as compared to the previous day’s closing of Rs 1,20,493.
Similarly, silver contract expiring on December 5 ended at Rs 1,46,698 per kg, up Rs 374 or 0.26 per cent against last session’s closing of Rs 1,46,324.Amid the modest mining, tight geopolitical conditions and surging festive demand, India’s silver exchange‑traded funds (ETFs) are trading at steep premiums over international benchmarks.
