Silver prices extended their record-breaking run on Wednesday, soaring more than 7 per cent, to hit a lifetime high of Rs 3.83 lakh per kg in the futures trade, while gold jumped to a new peak of Rs 1.62 lakh per 10 grams, buoyed by a sharp fall in US dollar and strong safe-haven demand.
Rallying for the fourth consecutive day, silver futures for March delivery climbed Rs 26,821, or 7.53 per cent, to hit another record of Rs 3,83,100 per kilogram on the Multi Commodity Exchange (MCX).
In the last three sessions, the white metal has surged Rs 55,811, or 17.05 per cent, from Rs 3,27,289 per kilogram (closing price) recorded on January 22.
Gold futures for February contract also witnessed robust buying by the investors, rising Rs 4,730, or 3 per cent, to touch a fresh peak of Rs 1,62,429 per 10 grams on the MCX.
Analysts said bullion prices extended their upward march amid a weakening US dollar, renewed geopolitical tensions and firm investor appetite for the safe-haven assets.
In thSilver prices extended their record-breaking run on Wednesday, soaring more than 7 per cent, to hit a lifetime high of Rs 3.83 lakh per kg in the futures trade, while gold jumped to a new peak of Rs 1.62 lakh per 10 grams, buoyed by a sharp fall in US dollar and strong safe-haven demand.
Rallying for the fourth consecutive day, silver futures for March delivery climbed Rs 26,821, or 7.53 per cent, to hit another record of Rs 3,83,100 per kilogram on the Multi Commodity Exchange (MCX).
In the last three sessions, the white metal has surged Rs 55,811, or 17.05 per cent, from Rs 3,27,289 per kilogram (closing price) recorded on January 22.
Gold futures for February contract also witnessed robust buying by the investors, rising Rs 4,730, or 3 per cent, to touch a fresh peak of Rs 1,62,429 per 10 grams on the MCX.
Analysts said bullion prices extended their upward march amid a weakening US dollar, renewed geopolitical tensions and firm investor appetite for the safe-haven assets.
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