Silver jumped by Rs 1000 to a new record level, gold fell by Rs 280 to Rs 97780

Amid strong global cues, silver touched a new peak in Delhi on Monday. Prices of white metal surged upward by Rs 1,000 to a new high of Rs 1,08,100 a kg. At the same time, the price of gold fell by Rs 280 to Rs 97,780 per 10 grams (including all taxes). Gold of 99.5% purity fell by Rs 250 to Rs 97,350 per 10 grams (including all taxes). All India Sarafa Association has confirmed this.

Earlier, on Saturday, gold fell by Rs 1,630 to Rs 98,060 per 10 grams. At the same time, the price of silver remained stable at Rs 1,07,100 per kg (including all taxes). Traders said that silver prices rose due to strong demand from investors, a weak dollar, geopolitical tensions, and an increase in EV and solar industrial demand.

Globally, spot gold also went up slightly to $3,312.84 an ounce. Saumil Gandhi, Senior Analyst, Commodities, HDFC Securities, opined that gold held strong at the lower end of its range in a mixed trading session on Monday. Hopes of US-China trade talks cut demand for safe-haven assets. Otherwise, the recent US nonfarm payroll report was robust. That has filled traders with expectations that the Federal Reserve's monetary policy might relax.

At the same time, spot silver rose 0.9% to $ 36.30 an ounce in the international market. Rahul Kalantri, Vice President, Commodities, Mehta Equities, said that silver prices are emerging from a strong gain after reaching a 13-year high globally. Kalantri said that softening of European inflation and great expectations about trade supported silver. Breaking the long-standing consolidation range, the price of silver managed to cross the level of $ 36 an ounce.