Silver Futures Hit Record High: Rs 1,14,875/kg

New Delhi, Jul 14 (PTI) Silver prices on Monday touched an all-time high of Rs 1,14,875 per kilogram in futures trade in line with firm global trends.

On the Multi Commodity Exchange (MCX), the metal contracts for September delivery hit a record high of Rs 1,14,875 per kilogram in early trade.

Later, it pared the gains to trade Rs 1,520, or 1.35 per cent, higher at Rs 1,14,521 per kilogram with an open interest of 22,695 lots.


Subsequently, the silver metal futures for December delivery rallied Rs 1,888, or 1.64 per cent, to hit a lifetime high of Rs 1,16,566 per kg on the MCX.

Globally, silver was trading 1.68 per cent higher at USD 39.05 per ounce in New York.

"Silver extended its bullish run surging to fresh year-to-date highs as renewed tariff tensions, a weakening US dollar, and mounting geopolitical uncertainty fuelled robust demand for its dual safe-haven and industrial appeal," Riya Singh, Research Analyst of Commodities and Currency at Emkay Global Financial Services, said.

Market participants will closely monitor this week's macroeconomic data, including the US Consumer Price Index (CPI), and Producer Price Index (PPI) which in turn steer bullion trajectory, Singh added.