Silver soars for 6th day in row, up Rs 3,600 to record Rs 2.92 lakh per kg

New Delhi: Silver price extended its record-setting rally for the sixth straight day by rising Rs 3,600 to Rs 2,92,600 per kg in the national capital on Friday amid sustained buying by stockists, according to the All India Sarafa Association.

However, gold of 99.9 per cent purity retreated from its all-time high level and declined by Rs 1,100 to Rs 1,46,200 per 10 grams.

Traders said silver remained resilient on the back of persistent industrial offtake, shrugging off weak global trends.

The white metal has now climbed 20.16 per cent, or Rs 49,100, in just six sessions, up from Rs 2,43,500 per kilogram on January 8. Silver continues to outpace gold for the second consecutive year, delivering 22.4 per cent returns.

Meanwhile, spot gold and silver extended their decline for the second straight day in the international markets, with prices dipping amid a stronger US dollar and fading geopolitical risk premium after reduced tensions in the Middle East.

Spot gold fell by $12.46, or 0.27 per cent, to $4,603.51 per ounce. Spot silver fell 2.26 per cent, or $2.08, to $90.33 per ounce on Friday.

In the previous session, the white metal had increased to a fresh record of $93.57 per ounce before plunging nearly 8 per cent to an intraday low of $86.30 per ounce after the US administration refrained from imposing an import tax on silver and other critical metals. The metal had settled at $92.34 per ounce on Thursday.