Silver hits lifetime high of Rs 97,100/ kg

New Delhi: Silver prices hit a lifetime high levels of Rs97,100 in the local market on Wednesday, while gold prices rose Rs250 in line with strong trends in the overseas markets, according to HDFC Securities.

Continuing its winning run for the third straight session, silver soared Rs1,150 to Rs97,100 per kg. It had closed at Rs95,950 per kg on Tuesday. In the futures trade, silver also hit a lifetime peak of Rs96,493 per kg on the Multi Commodity Exchange (MCX) on Wednesday. Meanwhile, the gold prices climbed Rs250 to Rs73,200 per 10 grams in the national capital. In the previous session, the precious metal prices had settled at Rs72,950 per 10 grams.

“Spot gold prices (24 carats) in the Delhi markets are trading at Rs73,200 per 10 grams, up Rs250 against the previous close,” said Saumil Gandhi, senior analyst, (commodities) at HDFC Securities.

In international markets, spot gold at Comex was trading at $2,352 per ounce, up $6 from the previous close. “Gold prices rose slightly on Wednesday, as safe haven demand following another attack on a ship in the Red Sea added to heightened geopolitical tensions in the Middle East. “However, hawkish comments from several US Federal Reserve officials and a jump in US Treasury yields limit the gains in precious metals,” Gandhi said.