At Rs 1.4L/kg, silver records new high, up 59% this year
Gold, which had also been in a multi-year rally, saw some softening of prices in the domestic market Thursday, following weak global trend, market players said.
On Thursday, gold prices on MCX for Dec delivery hit an intra-day high at Rs 1.14 lakh/10 grams.
In the spot market, the yellow metal traded at a slightly lower level, official data showed.According to industry analysts, the coming together of several tailwinds is resulting in this rally in silver and gold.
In addition to the US central bank’s dovish rate-cut outlook and expectations of further easing into late 2025, geopolitical uncertainties and weakness of the dollar against most major currencies are fuelling the northward movement for precious metals.
