New Delhi: Silver surged by Rs 1,900 to reach a fresh peak of Rs 1,41,900 per kilogram on Friday, while gold climbed Rs 330 in the national capital, driven by strong stockist demand during the ongoing festival season, according to the All India Sarafa Association.
Gold with 99.9% purity rose Rs 330 to Rs 1,17,700 per 10 grams (inclusive of all taxes), up from Rs 1,17,370 per 10 grams on Thursday. In the local bullion market, 99.5% purity gold gained Rs 400 to Rs 1,17,100 per 10 grams, compared to Rs 1,16,700 per 10 grams in the previous session.
Silver, which closed at Rs 1,40,000 per kilogram on Thursday, continued its record-breaking run, supported by robust festival demand and strong investor interest in the physical market, the association noted.
On the global front, both metals traded lower, with spot gold slipping 0.12% to USD 3,744.75 per ounce and silver down 0.35% to USD 45.03 per ounce.
Traders observed that sustained domestic demand and festive buying have offset weak global cues, keeping bullion prices on an upward trend in local markets.
