New Delhi, Dec 26 (PTI) Extending its blistering rally for the fifth straight session, silver prices on Friday surged Rs 8,951 to hit a fresh record high of Rs 2,32,741 per kilogram in futures trade as
the white metal breached the USD 75-per ounce-mark in the global market.
On the Multi Commodity Exchange (MCX), silver futures for March 2026 contract jumped Rs 8,951, or 4 per cent, to an all-time high of Rs 2,32,741 per kg. The white metal had gained Rs 29,176, or 14.33 per cent, since December 18.
In addition, gold prices crossed the Rs 1.39 lakh per 10 grams mark for the first time on the commodities bourse. Rising for the fourth straight session, the yellow metal for February delivery jumped Rs 1,119, or 0.81 per cent, to scale a new lifetime high of Rs 1,39,216 per 10 grams.
The commodity markets remained closed on Thursday on account of Christmas.
Meanwhile, bullion prices gathered pace as gold and silver hit lifetime highs in the international market. On the Comex, yellow metal futures for February delivery rose USD 58.8, or 1.3 per cent, to touch a new peak of USD 4,561.6 per ounce.
"Gold prices rose to around USD 4,500 per ounce on Friday, after briefly hitting an all-time high of USD 4,530 earlier in the session, driven by safe-haven demand amid mounting geopolitical tensions and expectations of interest rate cuts by the US Federal Reserve," Jigar Trivedi, Senior Research Analyst at Reliance Securities, said.
Rallying for the fifth straight day, silver futures for March contract increased by USD 3.81, or 5.31 per cent, to scale a fresh peak of USD 75.49 per ounce on the Comex. It had settled at USD 71.68 per ounce on Wednesday.
Trivedi said the US blockade of Venezuelan crude shipments, continued hostilities between Russia and Ukraine, and Washington's recent military strike against ISIS in Nigeria have reinforced safe-haven demand for bullion prices.
Investors continue to price in two quarter-point rate cuts by the Federal Reserve next year as inflation cools and labour market conditions soften, even as Fed officials remain divided on the path ahead.
"Gold prices have surged more than 70 per cent so far this year, marking its largest annual gain since 1979, with the rally also underpinned by strong central bank buying and sustained exchange traded fund (ETF) inflows," he added.
According to commodity market experts, the record-setting run in bullion could persist in early 2026, supported by easing inflation, a weak dollar, and persistent geopolitical risks that continue to fuel safe-haven demand. PTI HG TRB
