New Delhi
Silver prices soared to a record high of Rs 1,14,875 per kg in futures trade on Monday, driven by strong global trends. On the Multi Commodity Exchange (MCX), the September contract hit this all-time high during early trade before easing slightly to Rs 1,14,521 per kg, still up Rs 1,520 or 1.35%, with an open interest of 22,695 lots.
Meanwhile, silver futures for December delivery surged by Rs 1,888 or 1.64%, reaching a new peak of Rs 1,16,566 per kg on MCX.
Globally, silver was trading 1.68% higher at USD 39.05 per ounce in New York.
According to Riya Singh, Research Analyst at Emkay Global Financial Services, silver continued its upward momentum due to a weakening US dollar, renewed tariff tensions, and increasing geopolitical risks. These factors have boosted demand for silver as both an industrial metal and a safe-haven asset.
Singh also noted that upcoming U.S. economic data—particularly the Consumer Price Index (CPI) and Producer Price Index (PPI)—will be closely watched by investors, as it could influence the future direction of bullion prices.
Overall, the combination of domestic and global factors, including safe-haven buying, strong industrial demand, and inflation-related concerns, have pushed silver prices to historic highs, with market watchers anticipating more movement depending on global economic signals.