Silver prices surged on Monday to breach the record Rs 3 lakh-per-kg mark in futures trade for the first time, riding on strong investor demand and positive global trends.
Photograph: Amr Abdallah Dalsh/Reuters
On the Multi Commodity Exchange (MCX), silver futures for March delivery skyrocketed by Rs 13,553, or 4.71 per cent, to hit a record of Rs 3,01,315 per kilogram.
In the international market, the March silver futures contract jumped by USD 5.81, or 6.56 per cent, to hit a record of USD 94.35 per ounce.
Analysts said that upbeat industrial demand and a weak US dollar lent further support to the white metal, which has been outperforming gold in recent sessions.
