Silver prices soar to record highs in India driven by strong global cues
Gold prices, on the other hand, dropped by ₹630 to ₹1,17,370 per 10 grams (inclusive of all taxes) due to poor offtake by retailers. The precious metal had closed at ₹1,18,000 per 10 grams in the previous trade.
Gold of 99.5% purity declined by ₹700 to ₹1,16,700 per 10 grams from ₹1,17,400 per 10 grams in the previous session. Silver prices marched ahead in line with global trends. In international markets, spot silver rose more than 2% to hit a high of $45.03 per ounce.
In futures trade, silver prices scaled new record levels. The December contract of white metal zoomed ₹3,528 or 2.63% to hit a record high of ₹1,37,530 per kilogram. The March 2026 contract soared by ₹3,431 or 2.53% to hit a record peak of ₹1,38,847 per kg on the MCX.
Gold for October delivery also increased by ₹223 or 0.2% to ₹1,12,778 per 10 grams. Similarly, the December contract appreciated by Rs 262 or 0.23% to ₹1,13,909 per 10 grams. “Gold stayed positive with gains on MCX, reinforcing the strong bullish sentiment. The rally is supported by the Fed‘s dovish rate-cut outlook and expectations of further easing into late 2025.