Silver prices surged nearly 2% to a new lifetime high on Wednesday, December 10, tracking the broader uptrend in precious metals. On the MCX, the March silver contract climbed to a record Rs 1,91,800 per kg, while the February gold contract touched an intraday peak of Rs 1,30,502 per 10 grams during the morning trade.

So far this year, spot silver has gained more than 108%, and spot gold has risen 68%. Spot silver, which stood at Rs 85,851 per kg on December 31 last year, was quoting Rs 1,78,861 per kg on December 9. In comparison, domestic spot gold moved from Rs 75,913 per 10 grams at the end of 2024 to Rs 1,27,762 on December 9.

The sharp rally in both metals has been fuelled by geopolitical tensions, worries over the economic fallout of US tariffs, strong central bank purchases, and

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