Silver bounced by `7,400 to hit a new peak of `1,57,400 per kilogram

Gold prices skyrocketed by Rs 2,700 to scale a fresh peak of Rs 1,23,300 per 10 grams in the national capital on Monday, lifted by safe-haven buying in the overseas markets.

According to the All India Sarafa Association, the yellow metal of 99.9 per cent purity had closed at Rs 1,20,600 per 10 grams on Friday.

In the local bullion market, gold of 99.5 per cent purity jumped by Rs 2,700 to hit a record high of Rs 1,22,700 per 10 grams (inclusive of all taxes) on Monday. It had settled at Rs 1,20,000 per 10 grams in the previous market session.

Silver prices also witnessed robust gains. The white metal bounced by Rs 7,400 to hit a new peak of Rs 1,57,400 per kilogram (inclusive of all taxes). It had ended at Rs 1,50,000 per kg on Friday.

In the international markets, spot gold rose nearly 2 per cent to touch an all-time high of USD 3,949.58 per ounce, while silver went up over 1 per cent to hit a high of USD 48.75 per ounce. 

Silver prices have soared by Rs 67,700 or 75.47 per cent in the current calendar year, rallying from Rs 89,700 per kg on December 31, 2024.

Meanwhile, gold and silver futures also hit their fresh peaks in the domestic futures market on Monday.

The yellow metal futures for December delivery jumped by Rs 1,962 or 1.66 per cent to hit a record high of Rs 1,20,075 per 10 grams on the MCX.