Silver futures hits new all-time high; Gold climbs to Rs 98,132 per 10gm - check details

NEW DELHI: Silver prices hit a new all-time high of Rs 1,14,875 per kg on Monday in futures trading, driven by strong global cues.During early trading on the Multi Commodity Exchange (MCX), the September delivery metal contracts achieved a new record of Rs 1,14,875 per kilogram.The price subsequently adjusted, trading at Rs 1,14,521 per kilogram, showing an increase of Rs 1,520 or 1.35%, with 22,695 lots of open interest.The December delivery silver futures on MCX also achieved a record high, rising by Rs 1,888 or 1.64% to reach Rs 1,16,566 per kg.In the international market, silver traded at $39.05 per ounce in New York, showing a 1.68% increase."Silver extended its bullish run surging to fresh year-to-date highs as renewed tariff tensions, a weakening US dollar, and mounting geopolitical uncertainty fuelled robust demand for its dual safe-haven and industrial appeal," Riya Singh, Research Analyst of Commodities and Currency at Emkay Global Financial Services told PTI.Gold futures prices increased by Rs 320 to reach Rs 98,138 per 10 grams as traders established new positions responding to strong spot market demand.Trading on the Multi Commodity Exchange showed August delivery gold contracts advancing by Rs 320, equivalent to 0.33%, settling at Rs 98,138 per 10 grams with a business volume of 12,393 lots.In the international market, gold futures in New York registered a 0.09% increase, reaching USD 3,358.72 per ounce.