Silver jumps Rs 18,000 to Rs 2.6 lakh/kg, gold scales Rs 1.58 lakh/10 gms level

New Delhi: Precious metal prices jumped over 7 per cent in the national capital on Thursday, with silver rising to Rs 2.6 lakh per kilogram, while gold advancing to Rs 1.58 lakh per 10 grams, tracking firm global trends and a surge in safe-haven assets amid escalating tensions between the US and Iran.

According to the local marketmen, the white metal surged by Rs 18,000, or 7.32 per cent, to Rs 2,64,000 per kg from Wednesday’s closing level of Rs 2,46,000 per kg.

Gold of 99.9 per cent purity also advanced by Rs 1,950, or 1.24 per cent, to Rs 1,58,650 per 10 grams. It had settled at Rs 1,56,700 per 10 grams in the previous session.

In the international market, spot silver was trading 1.03 per cent higher at $77.97 per ounce, while gold was quoted marginally higher at $4,991.24 per ounce.

Renisha Chainani, Head - Research at Augmont, said investors are awaiting key macroeconomic data, including US GDP and Personal Consumption Expenditures (PCE) inflation data, which could shape interest rate expectations by the Federal Reserve in the coming months.