New Delhi: Silver prices on Wednesday breached the record Rs 2 lakh-per-kilogram mark in the national capital for the first time, driven by strong demand in domestic and global markets, according to the All India Sarafa Association. The white metal jumped by Rs 7,300 to hit an all-time high of Rs 2,05,800 per kg on Wednesday, against the previous closing level of Rs 1,98,500 per kilogram.
"Silver continued its ascent with prices touching record high levels in the domestic markets as the white metal surged to hit a new peak in the international markets," Dilip Parmar, Research Analyst, HDFC Securities, said.
So far in this year, silver prices have added Rs 1,15,300, or 127.40 per cent, since the level of Rs 90,500 per kilogram recorded on January 1, 2025. In the local bullion market, gold prices climbed by Rs 600 to Rs 1,36,500 per 10 grams (inclusive of all taxes), compared to the previous close of Rs 1,35,900 per 10 grams, as per the association.
Renisha Chainani, Head - Research at Augmont, said the US dollar index has reached a two-month low, making greenback-priced bullion more affordable for international purchasers.
In the international markets, spot gold went up by USD 18.59, or 0.43 per cent, to USD 4,321.06 per ounce. "Spot gold is trading with a gain of around 0.4 per cent at USD 4,320 per ounce as traders await the US Consumer Price Index (CPI) data to be released on Thursday," Praveen Singh, Research Analyst, Mirae Asset ShareKhan, said.