Gold & silver scale fresh highs on strong global demand

New Delhi: Gold and silver prices hit fresh peaks on Friday, 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.

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.

In the local bullion markets, gold of 99.5 per cent purity climbed Rs 700 to Rs 1,13,300 per 10 grams, marking its lifetime peak on Friday.

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.

In the international markets, spot gold increased by $12.69, or 0.35 per cent, to $3,646.69 per ounce.

Spot silver was quoting 1.82 per cent higher at $42.31 per ounce.