Silver hits ₹1.5 lakh/kg for first time; gold surges ₹1,500 to record ₹1,19,500/10g

Silver prices on Monday soared by ₹7,000 to hit an all-time high of ₹1.5 lakh per kilogram in the national capital, while gold also scaled a new peak of ₹1,19,500 per 10 grams amid strong global trends, according to the All India Sarafa Association.

The precious metal of 99.9% purity jumped ₹1,500 to reach a lifetime high of ₹1,19,500 per 10 grams (inclusive of all taxes), up from ₹1,18,000 per 10 grams in the previous session.

In the local bullion market, gold of 99.5% purity also rallied by ₹1,500 to hit a record high of ₹1,18,900 per 10 grams from ₹1,17,400 per 10 grams on Saturday.

Silver prices, too, witnessed a sharp rally, climbing ₹7,000 to touch a record ₹1,50,000 per kilogram (inclusive of all taxes), extending gains for the fourth straight session. The white metal had ended at ₹1,43,000 per kg in the previous trade.

In the overseas market, both gold and silver posted robust gains. Spot gold surged nearly 2% to hit an all-time high of $3,824.61 per ounce, while silver advanced more than 2% to $47.18 per ounce.

According to analysts, the surge in bullion prices was driven by strong global demand and a weakening dollar as investors sought refuge in safe-haven assets amid continued geopolitical and economic uncertainty.