Silver rises Rs 5K to hit fresh peak of Rs 1.15 lakh/kg

New Delhi: Silver prices skyrocketed Rs 5,000 to hit a fresh peak of Rs 1,15,000 per kg in the national capital on Monday as investors rushed to safe-haven assets following weakness in the US Dollar amid uncertainties over US tariff threats.

According to the All India Sarafa Association, the white metal rallied by Rs 4,500 to hit a lifetime high of Rs 1,10,000 per kilogram on Saturday.

As per the Association, gold of 99.9 per cent and 99.5 per cent purity appreciated by Rs 200 each to Rs 99,570 and Rs 99,000 per 10 grams, respectively.

Additionally, silver futures rallied by Rs 2,135 or 1.88 per cent to hit a record high of Rs 1,15,136 per kilogram on the commodities exchange. Meanwhile, the most traded gold contracts for August delivery climbed by Rs 518 or 0.53 per cent to Rs 98,336 per 10 grams on the MCX.

In the international markets, spot silver rose 1.71 per cent to $39.02 per ounce.

Spot gold went up marginally to $3,371.14 per ounce in the global markets.

“Gold has again resumed upside movement with prices poised to again move towards their all-time high, supported by rising tariff related uncertainty, possibility of escalation in the Russia-Ukraine war, and rising demand from ETF investors and central banks for diversification,” Pranav Mer, Vice President, EBG - Commodity & Currency Research at JM Financial Services Ltd, said.