Silver surges Rs 2,400, gold up Rs 90

New Delhi: Silver prices jumped Rs 2,400 to a fresh all-time high of Rs 1,94,400 per kilogram in the national capital on Thursday tracking firm global cues amid weakness in the rupee and a rate cut by the US Federal Reserve. The white metal had rallied sharply on Wednesday, rising Rs 11,500 to scale the record level of Rs 1,92,000 per kg, according to All India Sarafa Association. Since the beginning of the calendar year, silver has climbed Rs 1,04,700, or 116.72 per cent, from Rs 89,700 per kg on December 31, 2024. In the local bullion market, gold of 99.9 per cent purity added Rs 90 to Rs 1,32,490 per 10 grams from the previous close of Rs 1,32,400 per 10 grams, as per the association. Globally, spot gold fell $15.55, or 0.37 per cent, to $4,213.12 per ounce. Spot silver gained for the third straight session, rising $1.06, or 1.71 per cent, to a record $62.88 per ounce. “Silver prices has reached another record high on Thursday, fuelled by robust physical and investment demand. “The upward momentum in domestic prices has been significantly supported by a combination of tight market supply, record-breaking international silver prices, and a weaker Indian rupee,” Dilip Parmar, Research Analyst, HDFC Securities, said.