Silver rate today: Prices jump Rs 7,500 to Rs 1.79 lakh per kg in Delhi; investors seek safe havens
Silver rate today: Silver prices in the national capital witnessed a sharp jump on Monday, rising by Rs 7,500 to hit a record Rs 1,79,000 per kg (inclusive of all taxes) amid renewed US-China trade tensions and heightened safe-haven demand, according to the All India Sarafa Association. The white metal had closed at Rs 1,71,500 per kg in the previous session on Friday.In the international markets, spot silver climbed nearly 3 per cent to a fresh all-time high of $51.74 per ounce, PTI reported.“Silver jumped more than 2 per cent to above $51 per ounce on Monday, marking a new all-time high as renewed US-China trade concerns, political instability, and expectations of further US rate cuts fuelled demand for safe-haven assets,” said Jigar Trivedi, Senior Research Analyst at Reliance Securities.The rally was triggered after US President Donald Trump threatened to impose an additional 100 per cent tariff on select Chinese goods starting November 1, following Beijing’s new export controls on rare earth minerals.
However, Trump later signalled openness to negotiate ahead of a potential meeting with President Xi Jinping later this month, stating that trade relations would eventually stabilise.“Meanwhile, expectations that the Federal Reserve will cut rates by 25 basis points later this month and again in December, alongside a tightening physical silver supply in London, continued to bolster the white metal’s rally,” Trivedi added, quoted PTI.Gold prices also surged on Monday, rallying Rs 1,950 to hit a fresh record high of Rs 1,27,950 per 10 grams for 99.9 per cent purity in Delhi.
The precious metal had closed at Rs 1,26,000 per 10 grams on Friday.
Gold of 99.5 per cent purity similarly rose by Rs 1,950 to touch Rs 1,27,350 per 10 grams, inclusive of all taxes, compared to Rs 1,25,400 per 10 grams in the previous session.“Gold prices rose sharply higher as renewed US-China trade tensions reignited safe-haven demand,” said Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities.
“This geopolitical tension, along with sustained demand from investors seeking safety, continues to keep gold’s outlook bullish.”Analysts highlighted that both precious metals are benefiting from ongoing secular bull trends, with investor momentum, seasonal buying, and central bank accumulation underpinning the rally.“Bullion prices have reached fresh and unprecedented levels, primarily driven by vigorous festive demand and structural supply and liquidity constraints,” said Dilip Parmar, Research Analyst at HDFC Securities.
“The surge in gold is principally catalysed by rising investment interest, set against a backdrop of enduring geopolitical tension and concerted accumulation by global central banks.”Market experts also pointed out that the current rally reflects not just domestic demand, but also global factors including political instability, rate cut expectations by the US Federal Reserve, and limited physical supply in international markets.“Traders contend that the current secular bull market for precious metals is poised for continued ascent, sustained by both investment momentum and seasonal buying cycles,” Parmar added.
