Bullion futures hovering near fresh records

Silver prices extended its record-setting surge, approaching the Rs 3.2 lakh per kilogram, while gold futures soared to a lifetime high of Rs 1.48 lakh per 10 grams, as investors flocked to safe-haven assets amid deepening global geopolitical uncertainties.

Silver futures for March delivery surged by Rs 9,674, or 3.2 per cent, to a lifetime high of Rs 3,19,949 per kilogram. The white metal had breached the Rs 3 lakh milestone for the first time on Monday, before closing at Rs 3,10,275 per kg.

Over the last two trading sessions, silver has zoomed by Rs 32,187, or 11.18 per cent, from Rs 2,87,762 per kg recorded on January 16. Gold futures too continued their upward march, scaling fresh records in both domestic and international markets.

The yellow metal for February delivery increased by Rs 2,560, or 1.76 per cent, to Rs 1,48,199 per 10 grams on the MCX. In the international trade, Comex gold futures breached the $4,700 per ounce level for the first time, with the February contract gaining $127.15, or 2.76 per cent, to $4,722.55 per ounce.