Silver breaches ₹4 lakh mark, gold hits record ₹1.75 lakh

Silver prices surged to an unprecedented high on Thursday, breaching the ₹4 lakh per kilogram mark on the Multi Commodity Exchange, while gold climbed to a fresh lifetime peak amid strong investor demand and supportive global cues. The sharp rally reflects heightened interest in safe-haven assets as global uncertainties persist.

On the MCX, silver futures for March delivery jumped ₹22,090, or 5.73 per cent, to touch an all-time high of ₹4,07,456 per kilogram. Gold futures for February delivery also witnessed robust buying, rising ₹14,586, or 8.8 per cent, to hit a record ₹1,80,501 per 10 grams during early trade.

The rally was mirrored in international markets, where gold futures on the Comex crossed the crucial USD 5,600 per ounce mark for the first time, reaching a peak of USD 5,626.8 per ounce. Comex silver futures also surged sharply, touching a fresh record high of USD 119.51 per ounce.

Market participants said silver has been outperforming gold in recent sessions due to strong industrial demand and supply constraints, while a weaker US dollar added to the momentum. Persistent buying interest was also seen as investors sought protection amid economic uncertainty.

Analysts noted that rising geopolitical tensions and continued safe-haven demand are likely to keep bullion prices elevated in the near term, even as volatility remains high across global markets.