Silver Hits Record High, Gold Gains in India: Rediff Moneynews

New Delhi, Sep 26 (PTI) Silver prices surged Rs 1,900 to hit a fresh high of Rs 1,41,900 per kilogram while gold rose by Rs 330 in the national capital on Friday amid heavy demand from stockists during the ongoing festival season, according to the All India Sarafa Association.

Gold prices advanced, with 99.9 per cent purity rising Rs 330 to Rs 1,17,700 per 10 grams (inclusive of all taxes). The yellow metal had ended at Rs 1,17,370 per 10 grams on Thursday.

In the local bullion market, gold of 99.5 per cent purity climbed Rs 400 to Rs 1,17,100 per 10 grams (inclusive of all taxes), up from Rs 1,16,700 per 10 grams in the previous session.

Silver, which had closed at Rs 1,40,000 per kilogram on Thursday, continued its record-breaking streak, buoyed by robust festival demand and firm investor interest in the physical market, as per the association.

Globally, however, both precious metals traded lower. Spot gold eased 0.12 per cent to USD 3,744.75 per ounce, while silver slipped 0.35 per cent to USD 45.03 per ounce.

Traders said the persistent domestic demand and festive buying momentum have offset weak global cues, helping bullion maintain its upward trajectory in local markets.