New Delhi: Silver prices hit a record high in India on Wednesday. This was boosted by strong investor demand and growing expectations of an interest rate cut by the US Federal Reserve.
On the Multi Commodity Exchange, silver futures for March delivery surged Rs 3,736 per kg, or 1.98 per cent, to reach Rs 1,91,800 per kg. This comes after a sharp jump of Rs 6,923 per kg, or 3.80 per cent, in the previous session, driven largely by tightening supplies of the white metal.
Gold Prices Edge Higher
Gold futures for February delivery in India inched up by Rs 173, or 0.13 per cent, to Rs 1,30,280 per 10 grams. On the global front, central banks remain steady buyers of the precious metal. Notably, China boosted its gold reserves for the 13th straight month, taking its holdings to around 74.12 million troy ounces.
Silver ETFs See Record Inflows
Silver exchange-traded funds are also attracting strong investor interest, with inflows surging by 324 tonnes in just the past week, a new record for the precious white metal.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: ZEE News
