Silver surges Rs 3,650 to hit record Rs 2.4 lakh per kg

New Delhi: Silver prices extended the record-setting rally for the fifth straight day on Monday, jumping Rs 3,650 to Rs 2,40,000 per kg due to persistent buying by traders, according to the All India Sarafa Association.

The white precious metal had closed at Rs 2,36,350 per kilogram on Friday.

So far this year, silver prices have delivered remarkable returns, surging 167.55 per cent, or Rs 1,50,300, from Rs 89,700 per kg recorded on December 31, 2024.

Meanwhile, gold of 99.9 per cent purity retreated from its record levels by declining Rs 500 to Rs 1,41,800 per 10 grams. It had climbed Rs 1,500 to hit a fresh record of Rs 1,42,300 per 10 grams in the previous market session.

In the overseas markets, spot gold was trading lower by $69.67, or 1.54 per cent, at $4,462.96 per ounce. Spot silver retreated from lifetime highs to trade lower by $4.06, or 5.13 per cent, to $75.09 per ounce, on profit-taking after an end-of-year rally that notched a fresh record of $83.97 per ounce.