Silver soars Rs 9,350 to record Rs 2.36 lakh/kg

Mpost Bureau

New Delhi: Silver prices surged sharply in the national capital on Friday, scaling a fresh lifetime high amid firm global cues and thin year-end liquidity, industry data showed. According to the All India Sarafa Association, silver jumped by Rs 9,350 to settle at Rs 2,36,350 per kilogram, marking a steep rise from its previous close of Rs 2,27,000 per kg on Wednesday.

The white metal has been on a sustained rally in recent sessions. Over the past four trading days, silver has gained Rs 32,250, or 15.8 per cent, climbing from Rs 2,04,100 per kg recorded on December 19. On a calendar year basis, prices have risen by Rs 1,46,650, translating into a surge of 163.5 per cent from Rs 89,700 per kg as on December 31, 2024.

Gold prices also continued their upward trajectory in the domestic bullion market. Gold of 99.9 per cent purity advanced by Rs 1,500 to touch a new record of Rs 1,42,300 per 10 grams, inclusive of all taxes. The yellow metal had ended the previous session at Rs 1,40,800 per 10 grams. So far this year, gold has added Rs 63,350, or 80.24 per cent, from Rs 78,950 per 10 grams at the end of 2024.

In overseas markets, spot gold rose by $50.87, or 1.13 per cent, to a lifetime high of $4,530.42 per ounce. Spot silver also crossed a key milestone, touching the $75 per ounce level for the first time. It climbed $3.72, or 5.18 per cent, to a record $75.63 per ounce.

A market analyst said the rally has been intensified by low liquidity conditions ahead of the year-end and the Christmas holiday season, which have magnified price movements in global bullion markets.