Gold, silver scale fresh highs on global cues

New Delhi: Gold and silver prices hit fresh peaks, with the yellow metal hitting Rs 1,13,800 per 10 grams, and silver crossing Rs 1,32,000 per kilogram in the national capital on Friday, buoyed by strong global demand and heightened expectations of an interest rate cut by the US Federal Reserve next week.

According to the All India Sarafa Association, the precious metal of 99.9 per cent purity extended gains for the fourth straight session by jumping Rs 700 to hit a record high of Rs 1,13,800 per 10 grams. It had closed at Rs 1,13,100 per 10 grams in the previous market session.

The yellow metal prices have added Rs 34,850 per 10 grams or 44.14 per cent in the current calendar year, climbing from Rs 78,950 per 10 grams on December 31, 2024. Meanwhile, silver staged a sharp rebound, snapping its two-day losing streak with a jump of Rs 4,000 to hit an all-time high of Rs 1,32,000 per kilogram.

The white metal had closed at Rs 1,28,000 per kg as demand remained robust in physical and investment segments, as per the Association. Silver prices have been on a bull run this year, skyrocketing by Rs 42,300 or 47.16 per cent, from Rs 89,700 per kilogram on December 31, 2024.